Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Of course, you can draw lines however you like, but I find it a bit less realistic and predictive if you start from the extreme top, because the top was such an extreme (not conceding blow off top yet, except as a short term blow off top... which was about a two months time period that arguably provided the base for that), so perhaps, instead the top of the resistance line might start from the $15k territory or so and therefore end up touching more of the subsequent BTC price peaks (early march and early may, for example)?
Whatever works for you and produces actionable data.
For me, our failure to break away from the red long term downtrend line (so far) tells me we are still in a bear market. Thats all I need to know.
Even though I disagree with your current bearishness, I appreciate that you persist with providing reasons for why you continue to hold your (dumb) positions and sometimes explain the bets that you are taking in accordance with short-term expectations and changing dynamics too (and some seeming short-term BTC price dynamics of NOT changing too much... bitcoin got stuck...... temporarily.... )...