Bitcoin Long Term Trend

Oct 22, 2019Good evening ladies and gents. I have spotted Weekly Hidden Bullish Divergence on the MacD as well as RSI Bullish Convergence. These are both starting to round out. I am aware that many people are looking for a measured move down to around the 6800-7400 area, but that may not happen. Still could of course, but looking at the larger time frames, it's looking less likely ;) . I'd also like to mention the alt coins and where they are at. A lot of these alt coins are at the bottom of their overall bull trend showing Hidden bullish divergence, regular Bullish Divergence and Bullish Convergence. Too many coincidences for this to be just another random idea. These are actual technicals that I am displaying. This chart is on the log scale by the way! We have been in a down sloping channel for the last few months now after a large rally from our 3k bottom. We have only retraced 38.2% of the way. We are in common retrace areas after an impulse. So Price reversal from where we are at is most certainly possible! This is the .382 on the log scale! On the Linear scale, you have retraced over 50% of the way and nearly hit the .618 which is at $7200. In my chart, I have depicted two measured moves. This is a potential bull pole, bull flag pattern. In that case, the measured move takes is perfectly on the Log Scale at the 1.414 Fib extension around 42k. That is right, I fucking said 42k. Just an idea for now of course. This isn't certainty. The Gaussian Channel Tool is also teal on the Weekly time frame. Currently testing the top of it ;)

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