The majority of fractals from the previous bear market have been busted, however four points I'll be looking for:
- Final capitulation into previous uptrend channel
- Failed retest of upper bound
- Sideways/down into test of lower bound
- Find support, begin moving up again
$BTC 's most crucial support is the lower bound of the previous uptrend's channel, which would likely put us somewhere in the $3800-$4200 range depending on how long it takes to reach the bottom of the channel. If BTC breaks down out of that channel, all bets are off.
TV's fractal tool is pretty inflexible so don't take it as a blueprint w/ regards to timing, however the channel is much tighter than it was in 2015 - we can *hope* that accumulation will not last as long as it did in the previous market (most of 2015).
- Final capitulation into previous uptrend channel
- Failed retest of upper bound
- Sideways/down into test of lower bound
- Find support, begin moving up again
$BTC 's most crucial support is the lower bound of the previous uptrend's channel, which would likely put us somewhere in the $3800-$4200 range depending on how long it takes to reach the bottom of the channel. If BTC breaks down out of that channel, all bets are off.
TV's fractal tool is pretty inflexible so don't take it as a blueprint w/ regards to timing, however the channel is much tighter than it was in 2015 - we can *hope* that accumulation will not last as long as it did in the previous market (most of 2015).