So, I think the chart tells me that we have a rising wedge, which indicates a bearish move to the downside.
The top blue line, is very nice. I like that new highs have posted, and it isn't too steep. This is a nice long term trajectory for btc.
The bottom blue line, needs to fall off, as it is too steep to be maintainable. I drew a green line visually at the 7000 level, as there are many points at that spot that could again be support.
We could go and touch the 200 day moving average, but I still see it coming back down below the bottom blue line, letting that fall off our charts. Over time, the ceiling continues to grow. I would be a buyer at a return to 7k.
GLTA
The top blue line, is very nice. I like that new highs have posted, and it isn't too steep. This is a nice long term trajectory for btc.
The bottom blue line, needs to fall off, as it is too steep to be maintainable. I drew a green line visually at the 7000 level, as there are many points at that spot that could again be support.
We could go and touch the 200 day moving average, but I still see it coming back down below the bottom blue line, letting that fall off our charts. Over time, the ceiling continues to grow. I would be a buyer at a return to 7k.
GLTA