what you see before you is the linear regression channel on the daily.
the green lines are the camarilla L3 pivot point levels which represent monthly projected range bottom levels
notice a trend of the last 5 months within this channel. and how btc loves to rise from the L3 level and the bottom of the regression channel. the l3 pivot is plotted on the first of every month using previous high, low, open and close. we came down from the H3.. this often happens. I expect we could also rise from the L3 area.
If you are looking for a breakdown its possible you are actually just witnessing a larger projected range in a larger upward channel.
No need to worry unless there is a daily close below 48k
the green lines are the camarilla L3 pivot point levels which represent monthly projected range bottom levels
notice a trend of the last 5 months within this channel. and how btc loves to rise from the L3 level and the bottom of the regression channel. the l3 pivot is plotted on the first of every month using previous high, low, open and close. we came down from the H3.. this often happens. I expect we could also rise from the L3 area.
If you are looking for a breakdown its possible you are actually just witnessing a larger projected range in a larger upward channel.
No need to worry unless there is a daily close below 48k
