While I do use proper fundamentals and technical analysis, there is no harm in having a little fun.
Where do you think Bitcoin is going? Based on my analysis it can do 1 of 3 things. What? lol
Here is a Bitcoin chart using support/resistance, trend lines, Fib, and a few graphic interpretations that came afterwords.
Bitcoin (BTC) as you know is much lower than it’s highs in Dec. Some exchanges seen over $20,000 USD but quickly dropped to levels we see today.
I drew a horn as you can see. Until we see this area, I wouldn’t consider anything close to a bull market (going up).
The 2 Diagonal lines below the horns show a downward channel. (Dragon Head)
There are 3 diagonal lines below the green/red bars that trend up. The first 2 diagonal lines show (Dragons Teeth) the last 2 rebound areas based off the previous trend.
If we go below the Top row of teeth, buyers will be chewed and spit rolled down the tongue.
BUT REMEMBER… Bitcoin IS a fierce dragon.. See those claws??? Yeah?
The dragon will be ready to clench and take flight from this area, and I hope you’re holding on for the ride! If not,,, Well, we’re still in for a ride!
What is your position on the direction of Bitcoin?
Is Bitcoin a fierce Dragon, or is it gonna be eaten by a fiercer dragon?