BTC Chart Upside Down (USDT to the moon)
Tether USD / Bitcoin (calculated by TradingView) POLONIEX:USDTBTC
I wanted to share how I think about trend lines . I don't draw different triangles or rising wedges or cups and handles or pots and pans - it's way too ambiguous and so many different people will have different interpretations.
I think of trends as parallel channels - with a midpoint line where a lot of the price action with supports and resistances occurs.
I found the USDT chart here on TradingView which is the BTC chart upside down. This sucker looks like she's about to moon (which means short BTC ). I posted this on Twitter weeks ago, saying this looks like a chart ppl should be buying and so now, USDT has crossed above the 200MA on the daily and it's looking like the 50MA is wanting to cross up above that as well - I believe they call this a golden fucking cross.
We're going to see some light downwards action with some occasional violent moves down followed by some weak moves up. Much like how today has been. And like guessing the jelly beans in the jar, if the current mini trend holds, my bot tells me that at 12PM UTC on 22nd April we will see $4,746.
Hope you all stay safe, as winter is coming.