Idea of the BITCOIN Bull Market Channel
BTC trendline revised.
Taking the day when the new ATH was reached in December as a starting point.
If we are to go to test this support line at the moment, it would take us to roughly 50500 USD which also coincides with the 90 MA (moving average).
And it would be only 23% pull back.
So far, we had 4 main pull backs:
- 30% - Jan. 7 - Jan. 27
- 27% - Feb. 20 - Feb. 27
- 18% - Mar. 12 - Mar. 24
- ? % - Apr. 13 - ?
In the 2017 Bull Market, Bitcoin experienced 5 major pullbacks.
These pullbacks ranged between -29% to -40%.
So far in this bull market, we only had 1 30% retracement.
Taking the day when the new ATH was reached in December as a starting point.
If we are to go to test this support line at the moment, it would take us to roughly 50500 USD which also coincides with the 90 MA (moving average).
And it would be only 23% pull back.
So far, we had 4 main pull backs:
- 30% - Jan. 7 - Jan. 27
- 27% - Feb. 20 - Feb. 27
- 18% - Mar. 12 - Mar. 24
- ? % - Apr. 13 - ?
In the 2017 Bull Market, Bitcoin experienced 5 major pullbacks.
These pullbacks ranged between -29% to -40%.
So far in this bull market, we only had 1 30% retracement.
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