A theory on control zones for BTC. Channels appear to be respected in recent price action.
Monthly: Lowers Lows on Wicks
Will we continue the trend of lower lows?
Weekly: MACD Divergence
The divergence is still valid and is playing out within the decision zone, which may lead to bullish control.
4 hour: 3 touches of local bottom
Pretty strong case for a local bottom
4 hour: Bollinger Bands tightening
Impending price action for the decision zone. The longer it ranges the easier it will be for bulls to control if the channels are respected.
Monthly: Lowers Lows on Wicks
Weekly: MACD Divergence
4 hour: 3 touches of local bottom
4 hour: Bollinger Bands tightening
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Can we stay above the last monthly wick low of 19526?
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Look at how the 20-day SMA is respecting the midline of the channel
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9/6/22 after big dump, still in the decision zone.
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***9/9/22 Update***
Moving average still respecting midline of the channel.
We're still in the hands of the market makers. These large swings are even more proof of this.
Moving average still respecting midline of the channel.
We're still in the hands of the market makers. These large swings are even more proof of this.
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9/16/22 Update
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9/19/22
Dump bounced right off the 18.4k midline of the channel.
Respected.
Dump bounced right off the 18.4k midline of the channel.
Respected.
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Sep 30 11:22AM Update
We are so close to a decision!
We are so close to a decision!
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Bollinger Bands starting to pinch, impending price action.
A decision has to be made.
A decision has to be made.
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BTC respecting midline of channel.
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*2/18/23*
Channels were respected and BTC broke out accordingly.
New trendlines need to be used now....
Channels were respected and BTC broke out accordingly.
New trendlines need to be used now....