Volume Profile for the recent big rise
Don't see this one used much, so I thought I'd post that alone, without any crazy Fibonacci or Gann Box theories (there are times for that).
You can easily see the supports and resistances being formed as she plows through. It's like falling off a tree, and the biggest branch on the way down has the best chance of catching you. Except, on the way down, there is a different psychology involved. The mood changes, and things will intermingle. Different narratives will arise in the media. What is pump now will become more obituary.
If and when it falls, it will be another test of strength for our beloved Bitcoin. I have total faith in the concept (and now proof of concept), and 'til death am I long. Yet the market oscillates, as it always has, and this run will eventually end (probably).
Good luck. These are exciting times.
You can easily see the supports and resistances being formed as she plows through. It's like falling off a tree, and the biggest branch on the way down has the best chance of catching you. Except, on the way down, there is a different psychology involved. The mood changes, and things will intermingle. Different narratives will arise in the media. What is pump now will become more obituary.
If and when it falls, it will be another test of strength for our beloved Bitcoin. I have total faith in the concept (and now proof of concept), and 'til death am I long. Yet the market oscillates, as it always has, and this run will eventually end (probably).
Good luck. These are exciting times.
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