Bitcoin
Bitcoin
Out of context: Reply #87
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- plash0
this is all quite healthy for an evaluation of the performance. Since bitcoin has no measurable fundamentals, technical analysis is one of the only options left to try and derive "value".
The flat line at 150 is trying to show for a 3 day period the price tried to move above 150 and then consolidated at that level. At which point we would consider 150 the "ceiling". Shortly after the price broke higher thus 150 becomes a "Floor". The other sloped red line is projected longer term performance ( still only 9 days) trend line. It shows how the prices bottomed at predictable points from April 1 - 7. If you extrapolate that line forward through today, it's basically saying the outcome of this crash will be BTC in the $150-$170 range.