why did that happen ?
The easiest way to View a #Bitcoin Daily chart , is like this right now.
Don't bne scared. This is good
4th rejection of this line ?
Have we actually been making a CUP and Not the Descending channel we all thought we were in ?
We will have to wait and see if we get to get over this line of resistance or we continue to create this Cup Pattern we seem to have created since March this year.
If that Cup is Valid, it could throw a lot of ideas out the window for a DEC ATH but would Look excellent for the Early 2025 ATH and then more.
Time will tell
4th rejection of this line ?
Have we actually been making a CUP and Not the Descending channel we all thought we were in ?
We will have to wait and see if we get to get over this line of resistance or we continue to create this Cup Pattern we seem to have created since March this year.
If that Cup is Valid, it could throw a lot of ideas out the window for a DEC ATH but would Look excellent for the Early 2025 ATH and then more.
Time will tell
it IS A very gOOD IDEA TO REMEMBER THIS RIGHT NOW
#Bitcoin GOLD
PA is atalling a little as World issues in the Middle East push people towards the comfort of a known Safe Haven asset called GOLD.
However, PA has been rising at the same time as Gold and so this is WIN WIN if you hold.
Since 7 Sept, BTC XAUT has seen a 21.2% increase in price over Gold.
In the same period, GOLD itself has a 9.6% increase against the USD - to a new ATH
The USD itself has been rising in recent weeks but has stalled. It has room to move further and given how it can be manipulated and Figures "Adjusted to suit Political aims in an election campaign", whio knows that coming next..
You are probably better off asking them Directly.. I asked a question to them and got a response with in 24 hours.. they seem very helpful.
Shorter Term #Bitcoin 4 hour
been waiting to see what was happening before posting.
But now we see, PA is back below resistance and a 67600 or less is possible as the lower support is a descending line.
67700 is the line we do not want to cross really.
Hang in there Bulls
This is a Simplified version of a chart I have developed over the last few years, tracing the creation of #Bitcoins Long Term Price Action.
So, That Orange Arc is part of a Fibanacci Spiral, that PA entered in October 2009. Notice how it acted as a rejection point of every ATH until June 2019, when a strong push up was rejected and we entered a Bear market till after the March 2020 Crash.
And it was in October 2020 that we broke through that Sprial. And it was HUGELY important to do that otherwise, we would have been dragged back down in a Negative Arc...as you can see by following that Orange Arc.
You can also see how a channel was created, initially, the lower line was resistance in MAY 2011
PA broke through in Feb 2013 and went to ATH, where it got rejected off the upper Trend line, which has been the point of Rejection ever since.
Trendlines become Valid on a minimum of 3 touchs and Both Upper and lower have more than that.
Using a Day count between ATH's, we can project that the next ATH will be around... OCTOBER (another October ) 2025 and for me, Is following a Very similar path to that of 2013 - 2017 PA
So, in summery, PA was confined by a Fib Spiral at first until it created a channel to rise in.
It then needed to break free of that spiral and then to "run Free" in its channel.
Why a Fib Spiral ? I can show you some calculation if you wish that create this spiral, or part of it, exactly where you see it.
And so now, we are in Lower zone of the rising channel and heading towards a Projected 400K by this time next year.
There are channels with in Channels, a bit like Elliot waves
Look at the chart and check out the number of times areas have been tested, retested and then used.
This chart is one of 5 I base ALL my Bitcoin Decisions on.
If you have read this far..thanks.
I would love any feed back, positive or negative... I can take it lol
Enjoy
#Bitcoin Weekly Close
Week closed with a nice strong Green candle that also took PA out of the closing pennant it had been in and out of for some time.
I will just mention that that dashed lower line on that pennant has origins way back in 2017 where it acted as strong Support.
In fact, it was the spring board in the week of 2 October 2017 that then took PA to ATH 2 moinths later - Just saying
Back to today, PA may cool off for the week, it may not but the 4 hour MACD is continuing to fall Bearish from OverBought and the Short term 1 hour has just done the same.
RSI is jumping Volatile so I think we are back in the land of ranging / Small Dips for a while unless some Major event occurs.
A return to the 3.618 Fib extension is very possible at 65500 area, to retest previous Resistance as support.
DO NOT PANIC. THIS IS GOOD
Longer Term, at the current trajectory, we hit that 8.618 Fib circle in Early Dec. Given various projections of a Push higher in Dec, I can see PA ranging into that Circle and pushing Higher on the other side.... The real question is will we be above that 4.236 Fib Extension before that point. That line is at 76K usdt
Historicaly, the 4.236 Fib extension is a line of change, Rejection and "Top"
For Me, that "Wall" At 76K will be broken but it will be A tough fight and it needs to happen BEFORE Mid Dec this year
Jump pn board...this is going to be FUN
I have been involved in Computing since 1991
I first used a LINUX system in 1992
I first got involved in high end 3D CAD systens in 1993
First used WAN's as a Techie in 1994
First got into Bitcoin in 2013
And I first got into NOSTR in 2024
And I have Never seen anythng as exciting as the possibilities that NOSTR presents.
This really is an OPEN DOOR to aNew world and I Hope beyond all hopes that it Succeeds and remains true to its creation.
DECENTRALISED< OPEN AND FREE
Thak you to everyone that is involved in tits creation and continued Expansion
#Bitcoin Daily LOG chart
Posted this a few days ago so I thought I'd have a review.
PA got over that line of resistance that would have pushed it into the Squeeze, leading to that apex at end of month.
As a result, providing PA remains above, we can reach 70K before further resistance.
2nd image = MACD ( Yellow and RED Signal line) RSI ( Blue)
Be aware that MACD is on a line that has rejected previously. since March - It is NOT overBought but there is caution to be had.
RSI ( Blue ) is up higher and , again, not overbought but in a zone that has pushed RSI lower.
For me, we can go higher yet but PA is ranging along that line of Resistance we just pushed over. PA is Cooling off with the 4 hour MACD falling Bearish. Thats OK, we have strength. It needs to reset.
What happens when the Eastern markets open will be a deciding factor later today ( CET )
OTHERS Crypto Market Cap
Top 125 Coins Minus top 10 by Dominance.
Lower Cap ALTS basicaly.
And it is struggling over all. There have been some coins with huge gains but over all the trend is Negative but recovering
The Volitility of this Group of coins Leads to high gains and Losses
There are a number of lines of Stiff resistance in the near Future if this continues to climb.
CAUTION but Bullish
TOTAL 3 Crypto Market Cap
Excluding BTC and ETH
This one has broken over that line of Resistance ( zoomed image ) and is currently sliding along it as a result of the Non ETH Alts mentioned in previous post.
If BTC Takes off big time, this will drop back below most likely.
Possibly Fragile
TOTAL 2 Crypto Market Cap ( Excluding BTC )
The MAJOR difference here is that PA has fallen BELOW support.
People waiting for ALT Seasons may have to wait a little longer. Though there are many ALTS that do NOT require the ETH
One to watch
TOTAL Crypto Marjket Cap
In approx same Zone as Arrow from 2021 - EXCEPT that MACD was OVERSOLD then and is just bouncing off NEUTRAL now
Skies the limit
There is a question people of my generation may start asking themselves. And there is little point in being dishonest with yourself.
So, ask yourself.
If you knew this was th elast 10 years of your life, would you be happy to continue as you are ?
Ask this question quietly to yourself and if the answer is "NO" - then do something about it, because this maybe the last 10 years of your life. We just do not know.
Go and do the things you have always wanted to do, say the things you have always wanted to say
BE WHO YOU ARE
Thats Hard going.. I had no idea it was like that these days. . I know 3 families there and not one has mentioned this sort of thing...To be honest, given what Portsmaouth is, I am surprised this has even been allowed to get to this stage - Stay safe
Tell me, that' s Portsmouth UK ? Looks wet enough
I have a request for All you wonderful DEVS out there, who are creating the Next New World on NOSTR - Long may you all live
My Request is a simple one/
As a man With Visual Issues like being nearly blind and my eyes not reacting to intensities of light, PLEASE can you all integrate a DARK MODE button on the sites / pages you create
It makes a HUGE difference to so many
And once again. THANKS