We can see BTC climbing its measured move line like a staircase

27 Feb

Here on the btcusd weekly timeframe chart I wanted to update my previous Bitcoin channel chart I posted now that it is clear where the breakout point will be so I could adjust the measured move line more precisely to the point of the actual breakout to give a more precise target at the same time. I didn’t change the trajectory angle of the measured move line one bit, I simply moved it from my rough estimate of where we would break up from the channel to where we actually did break up from the channel. In doing so, it instantly became clear to me that just like both Tron and Ethereum have recently been doing, Bitcoin too is climbing up its measured move line like a set of stairs with the dotted line as usual acting almost like a magnet for price action. Full target for this channel should take price action to around 82.2k! *not financial advice*

27 Feb

Nota

I almost forgot to mention that not only is this a descending channel, but is also the flag of a very sizable bullflag as well. You can see this illustrated in my previous chart I posted on this channel which I will link below. Where I arbitrarily placed the breakout lines before the full bullflag target was around 97.7k and originally I had th channel itself at a target of around 80k. So since readjusted the channel’s measured move line added about 2k to its total target, I think it’s safe to say that the full measured move target then for the entire bull flag is right around 100k! Exciting times.

10 Nov

Nota

Getting very close to the full breakout target of the channel here.

11 Nov

Nota

Target hit!!