Hello All,
I decided to chart the previous ATH price movement (yellow line) and overlay it on current price movement to see if there is any correlation. Seems to line up fairly well.
I started tracking where the ATH move made sense at appx $86. I then tracked and plotted each moves high/low close all the way to the ATH.
I decided to find where the current move high price matches ATH move price and align my yellow line from that point. Interestingly the starting point of $86 matched up near perfectly.
The current price movement closely matches previous action (yellow line) which make me believe we are in for a ride soon. We are about to experience a bounce off the trend line as you can see in the RSI it has in the past.
Orange Fib lines were from previous ATH move start to ATH close.
Previous ATH took appx 217 periods to top out and if current price action follows, this will put us at ATH around September.
This is just a comparison of previous price and current to tell if there is any correlation. This is not trading advice.
Please comment with your opinions.
I decided to chart the previous ATH price movement (yellow line) and overlay it on current price movement to see if there is any correlation. Seems to line up fairly well.
I started tracking where the ATH move made sense at appx $86. I then tracked and plotted each moves high/low close all the way to the ATH.
I decided to find where the current move high price matches ATH move price and align my yellow line from that point. Interestingly the starting point of $86 matched up near perfectly.
The current price movement closely matches previous action (yellow line) which make me believe we are in for a ride soon. We are about to experience a bounce off the trend line as you can see in the RSI it has in the past.
Orange Fib lines were from previous ATH move start to ATH close.
Previous ATH took appx 217 periods to top out and if current price action follows, this will put us at ATH around September.
This is just a comparison of previous price and current to tell if there is any correlation. This is not trading advice.
Please comment with your opinions.
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