Bitcoin was launched 4,844 days ago.
Recent Bitcoin news:
Seven times Bitcoin miners made the world a better place FN1
Treasury Secretary Janet Yellen Calls Crypto 'Transformative' in Wide-Ranging Speech FN2
Jack Mallers’ Strike Announces Shopify Integration for Bitcoin Lightning Payments FN3
"Has the Dow Jones reached top and Bitcoin continuing down?" FN4 asked "is a bearish symmetrical triangle being formed? If it happened to be a BST "Avoid opening a position if the break/exit occurs before 3/4 of the triangle."
From the swing bottom on January 24th it took sixty days for the market to penetrate the resistance line created February 10th and March 2nd.
Does the rule "Avoid opening a position if the break/exit occurs before 3/4 of the triangle" hold true so far?
Three days later, Bitcoin printed a swing top.
The top on March 28th was 7%+ above the Resistance Line on the possible BST.
It's now 12 days later. Price as dropped back in BST territory and down 14%+.
BTC is 75 days to the right of the January swing bottom and exactly 90 days to the left what marks the 75% mark of a BST.
BTC rallied up from a March 7th low penetrate and created a swing top above the resistance of what possibly could be a BST. That took 21 days. However, further to the right 33 days later and the market forces have driven price back under the trend reisistance line created by the previous swing tops.
Where could price go from here?
Possibly the support line created by the two swing bottoms on January 24th and the one a month later. Of course this is not trading or investment advice. None of this article is trading advice. Solely my observations and opinion.
Resistance pullbacks on the triangle’s support line are detrimental to performance.
Do your own research. The above is solely the opinion and observations. This is not trading or investment advice. All charts are the creation of mine using Tradingview.