Valley of Resistance & Support Theory (PATTERN FOUND!) #Bitcoin
Recognizing a pattern in each valley of support/higher low here, there is a V-shaped incline trend upward in the form of a higher low.
The time between each pump, after each V-shape retest of support, it has proven, in the first 2 V-shape moves to take exactly 1 month to test and fall back down for a higher low.
After "1" it took about 11 to 12 days until its move upward.
After "2" on 24th of February, it took around 15 to 19 days to retest resistance on a large move upward.
From "3" onward it rallied and retested resistance and fell down to retest support on the yellow line. Continued with a V-shaped move to test the valley of support even further, from which proved to be a higher low on the sideways, slightly inclined price action when zoomed out.
All V-shaped moves being approximately 1 month apart, we're looking for the successful breakthrough of the 200EMA and middle trendline; from there, to hold support is the goal, and if proven to hold support, it would have broken out of this sideways uptrend/higher-low pattern.
The time between each pump, after each V-shape retest of support, it has proven, in the first 2 V-shape moves to take exactly 1 month to test and fall back down for a higher low.
After "1" it took about 11 to 12 days until its move upward.
After "2" on 24th of February, it took around 15 to 19 days to retest resistance on a large move upward.
From "3" onward it rallied and retested resistance and fell down to retest support on the yellow line. Continued with a V-shaped move to test the valley of support even further, from which proved to be a higher low on the sideways, slightly inclined price action when zoomed out.
All V-shaped moves being approximately 1 month apart, we're looking for the successful breakthrough of the 200EMA and middle trendline; from there, to hold support is the goal, and if proven to hold support, it would have broken out of this sideways uptrend/higher-low pattern.
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