Local low of $3.4kish? How did you determine that?
The low for this cycle was about $3,122 on December 15. Is that what you meant? There is not an intermediate local low that has any meaningful significance, is there?
By local I mean just that.
Jan. 22nd was a "local" low imho, If I had meant the ATL of last year I would have been more explicit. Regardless of that, both of these data point's are fairly obvious on my chart. I had thought I had
you all properly trained by now to my idiosyncrasies and propensity to obfuscate what I am really saying. If you look closely you can see that the area of probability that I have emphasized begins at Jan. 1st and expands outwards from there. The lower line emanating from the ATL of 2018 and connecting to the "local" low of last week highlights what I believe is a rising channel we are currently in even though the price action has been somewhat sideways. Until one of these arbitrary lines is broken my prognostications remain unchanged. I think sometime around the 27th we will see a dip that may or may not puncture below the 0.236 fib and potentially challenge the local low. The first week of coming month should see a rebound and recovery from any such price action and set a course for an area of high uncertainty at the current time. #dyor
Fair enough to suggest that there might be some greater nuance in the lines than what some others, such as me, might be willing to appreciate.
Personally, I doubt that there is much significance to any price point between here and the low of $3,122 on December 15. So, yeah, let's see if BTC prices get close to the $3,122 or break below it.
Furthermore I don't give much significance to being out of our current bear market until, perhaps, BTC prices get back above $6k and stay there.
Of course, if there is some additional passage of time that cause BTC prices to get caught in higher channels than it is now, such as getting caught above $4,100 or $5,100, then I might change my thinking. So, downwards and $3,122 seems to be the most relevant number at the moment, and any other higher price points, between our current price and $3,122 hardly has any significance.. but go ahead, argue whatever you want and present what you want.