Fib. channel fitted on linear scale and a 20W extension
Bitcoin / US Dollar (calculated by TradingView) BINANCE:BTCUSD
20W moving average (and a white shadow of a 21W EMA ) has historically indicated a good near term cost basis. With a fitted fibonacci slanted channel (and more-or-less randomly extending the 20W average) we can plot a possible path for BTC , dancing between past fib level trend lines for resistance at important price levels, while also holding support at this imagined 20W SMA extension.
Of course, depending on the weekly close, this can breakdown form 20W SMA , in which case we continue our crab , I think.
