View: slopechart_$BTC.jpg

slopechart_$BTC.jpg

It's Saturday, so have some more monkey business with streyt rainbows. 

BTC May dump to present. Need 3 points to make a circle. Which three points is the question! All-time-high and some kind of terrifying sell-off low, plus either a somewhat nearby high OR low. Dunno. I used the channel trick of going back to prior price moves that might not be in the current bear move, but rather were in the prior bull move for the May event. New one used recent highs. 

The May event Rainbow would have told you to buy at 37k on Rainbow Breakout. Up to you when to sell. (Consult Tim's ghey rainbow perhaps!) EDIT: I just noticed that the rainbow got backtested right there, lol. Hrm... 

I put one on this latest event for giggles. Have to let it sit a few weeks to see what happens. 

Probably kinda like triangles, I suspect, they will have a habit of becoming much bigger rainbows. But that is ok, who doesn't want an even bigger rainbow?

Image added via SlopeCharts
slopechart_$BTC.jpg

Comments

ClawsClaws
Ten out of ten for original thought. 12/4/21
zstockzstock
I'm going long at $40k, and then HODL! 12/4/21
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