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Measuredmoveline

Update on BTC Inv head and shoulders pattern.As one can see here looking at this chart, the dotted light magenta colored measured move line is more or less being overlapped by the daily 20ma(thin teal line) for double reinforced support and at the current moment the 20ma is maintaining support for now. It wouldn’t surprise me if price eventually wicked below it to retest the inv h&s neckline as support since it never did on the initial breakout above the neckline, but its also fairly probably that the 20ma or dotted measured move line can hold support. We will find out most likely before mid june if there will be any deeper correction before resuming the uptrend *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
We can see BTC climbing its measured move line like a staircaseHere on the btcusd weekly timeframe chart I wanted to update my previous Bitcoin channel chart I posted now that it is clear where the breakout point will be so I could adjust the measured move line more precisely to the point of the actual breakout to give a more precise target at the same time. I didn’t change the trajectory angle of the measured move line one bit, I simply moved it from my rough estimate of where we would break up from the channel to where we actually did break up from the channel. In doing so, it instantly became clear to me that just like both Tron and Ethereum have recently been doing, Bitcoin too is climbing up its measured move line like a set of stairs with the dotted line as usual acting almost like a magnet for price action. Full target for this channel should take price action to around 82.2k! *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail