BTCUSD 6 MONTHS LONG TERM JULY-DEC 2022 CONTINUATION OF JAN-JUNE
I made a correction to the line that meets June's low using the magnet instead. Added other possibilities that it may in fact reach 12xxx-13xxx
May 11
Bear in mind that this is a 6 months chart and a lot of information is in it. I do not use any sophisticated tools; except volume analysis, it is best to follow the channels in different colors:
If you take it to a quarterly or monthly chart, the lines will not be accurate, you need to adjust them.
The maroon’s arrows point to the channel where it is resting precariously at L29731 however the purple DOTTED upward channel points to a lower low of 21037-23444 where the DASHED HORIZONTAL line acts as support at 24836.
I think it will close in JUNE at 24xxx, in order to make it to the next quarter where it should find some respite, it should start to go up with resistance at the intersection of the YELLOW line with DOTTED PURPLE upward line at 32203; if it should break above it, it will now hit the STRONG RESISTANCE at 34177-34853.......
BUT BUT BUT if it breaks below the DASHED HORIZONTAL line as support at 24836 it will go down to the bottom of the THICK PURPLE UPWARD CHANNEL, if it does it MUST close at or above the DASHED HORIZONTAL LINE for the semester; otherwise the initial direction of the PURPLE THICK CHANNEL will be lost and the support will rest on the LIGHT BLUE LINE WITH LIGHT BLUE ARROWS or in extreme circumstances it will drop to the faint MAROON lines with maroon arrows…
I only see a clear path starting on the first quarter of 2023 but with strong resistance at 46251 where it will hit the bottom of the RED CHANNEL above, it has gone down on little volume and volume is at its lowest back to 2012; since then many new cryptos and NFTs, etc. have been created, it is possible that the money is now scattered through other new investment options.
Pay attention to the three sort of hidden channels the YELLOW, the BLUE and the two RED UPWARD channels these indicate a change in angle of direction: from YELLOW to BLUE to LIGHT RED and RED: these are best seen in quarterly and monthly. They can be used in the way back down as they will act as support and resistance . Take into consideration the distortion in the charts when going from one time cycle to another and adjust them accordingly.
The OBV shows that most of the initial positive volume is still intact, in the next semester pay attention for if the volume holds on the support light blue line, see arrows
The UO at the moment is at 50.31 but it has a downward direction toward the HORIZONTAL DARK BROWN HORIZONTAL line…so does the OBV towards horizontal brown line
May 11
Bear in mind that this is a 6 months chart and a lot of information is in it. I do not use any sophisticated tools; except volume analysis, it is best to follow the channels in different colors:
If you take it to a quarterly or monthly chart, the lines will not be accurate, you need to adjust them.
The maroon’s arrows point to the channel where it is resting precariously at L29731 however the purple DOTTED upward channel points to a lower low of 21037-23444 where the DASHED HORIZONTAL line acts as support at 24836.
I think it will close in JUNE at 24xxx, in order to make it to the next quarter where it should find some respite, it should start to go up with resistance at the intersection of the YELLOW line with DOTTED PURPLE upward line at 32203; if it should break above it, it will now hit the STRONG RESISTANCE at 34177-34853.......
BUT BUT BUT if it breaks below the DASHED HORIZONTAL line as support at 24836 it will go down to the bottom of the THICK PURPLE UPWARD CHANNEL, if it does it MUST close at or above the DASHED HORIZONTAL LINE for the semester; otherwise the initial direction of the PURPLE THICK CHANNEL will be lost and the support will rest on the LIGHT BLUE LINE WITH LIGHT BLUE ARROWS or in extreme circumstances it will drop to the faint MAROON lines with maroon arrows…
I only see a clear path starting on the first quarter of 2023 but with strong resistance at 46251 where it will hit the bottom of the RED CHANNEL above, it has gone down on little volume and volume is at its lowest back to 2012; since then many new cryptos and NFTs, etc. have been created, it is possible that the money is now scattered through other new investment options.
Pay attention to the three sort of hidden channels the YELLOW, the BLUE and the two RED UPWARD channels these indicate a change in angle of direction: from YELLOW to BLUE to LIGHT RED and RED: these are best seen in quarterly and monthly. They can be used in the way back down as they will act as support and resistance . Take into consideration the distortion in the charts when going from one time cycle to another and adjust them accordingly.
The OBV shows that most of the initial positive volume is still intact, in the next semester pay attention for if the volume holds on the support light blue line, see arrows
The UO at the moment is at 50.31 but it has a downward direction toward the HORIZONTAL DARK BROWN HORIZONTAL line…so does the OBV towards horizontal brown line
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