I'm not a trader or TA guy, I just like patterns, and maybe I'm using the tools wrong, but this stands out to me and I haven't seen it anywhere else. I saw the lines and drew them without realizing I was modeling the possible paths for diminishing returns.
3 parallel channels connecting consecutive cycle tops.
The confluence is insane
All 3 channel bottoms converged exactly where we just bottomed.
Unless we fall out of the biggest channel, diminishing returns is not confirmed for me.
…But imagine if we stay in it, and this was just an absolute bottom retest on the trend…
https://www.reddit.com/gallery/1wv4etj
Posted by AndersonR00fing
3 Comments
The monetary regime since 2022 has been very similar to 2019. I’ve been comparing the last bull run to the mini 2019 bull. On a log-log graph they actually look identical. Once they really start printing again (like 2017 and 2021) bitcoin will bubble again.
Did you expect BTC to go parabolic forever? I don’t think 1 BTC being worth quadrillions makes sense.
These types of channels only work as resistance and support
They aren’t going to perpetually hold
As well you should be looking at curve shaped support and resistance if you are modeling things like this NOT line shaped
Line channels are good for S&P and good for horizontals on most charts