Issue 36 – Bitcoin Direction Hinges on These Parallels

July 12, 2021


As a general rule, most of the levels on your charts should last for weeks if not months. That’s especially true if you’re using the higher time frames (you should be).

However, it’s also a good idea to occasionally hide those levels and start over.

It helps your mind generate fresh ideas, which is difficult if you’re staring at the same levels for months.

In today’s issue, I’ll share with you four Bitcoin trend lines I found this morning that may offer additional clues about where prices go from here.

They also outline a few key support areas I’ll be keeping a close eye on in the coming weeks.

Let’s go!

Starting Over

I decided to hide my previous Bitcoin levels this morning and start fresh.

I like doing this from time to time to help generate new ideas, even if those ideas don’t necessarily change my overall bias.

For Bitcoin, the last 54 days of sideways action hinge on one level.

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Justin Bennett

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About the Author

I'm Justin Bennett, a currency trader turned crypto enthusiast. My journey started with stocks in 2002. After limited success, I transitioned to currencies in 2007, which later became a full time trading gig. The journey continued, and in 2020, I committed to learning about cryptocurrencies. It was love at first sight. Cryptocademy.com is the culmination of my love for cryptocurrencies, my passion for financial markets, and desire to learn and teach.

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