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SPEEDING LINES - BTC RECENT UPTREND

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COINBASE:BTCUSD   Bitcoin / U.S. Dollar
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The vertical distance from the peak to the beginning of the trend is divided into thirds.

The upper line is the 2/3 speedline and the lower is the 1/3 speedline (dividing the vertical line in 2/3 and 1/3 respectively )

When an uptrend is in the process of correcting itself, the downside correction will usually stop at the higher speedline (the 2/3 speedline). If not, prices will drop to the lower speedline (the 1/3 speedline). If the lower line is also broken, prices will probably continue all the way to the beginning of the prior trend. In a downtrend, the breaking of the lower line indicates a probable rally to the higher line. If that is broken, a rally to the top of the prior trend would be indicated.

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