This is my Long Term Bitcoin Idea.
We went into channel in March 2013, having previously tested the line as resistance in May 2011
From this point, we went into ATH in Nov 2013, tested upper trend line as resistance and then went back down. And the "Cycles" began
Trendlines become Valid with a minimum of 3 touches and Both these lines have multiple tests.
It is obviously possible to break out of the Channel , as it is possible to break over it.
Currently, we have just risen over a "central " line and testing as support.
The Orange line is a Fibancci Spiral that acted as resistance till PA broke out in October 2020.
See how the deep bear tested that as support in Nov 2022.
there is so much more to this but that is the simple version and what I have based my Bitcoin strategies on.
I am still in profit
