This type of analysis is a bit gestural. The math is in the geometry.
Pitchfork/channel analysis is about spotting trends and measuring trend changes as the chart evolves.
Identifying support and resistance will also give good indications of where there will be turbulence and direction change in the market.
Bitcoin is in an upward trend. I would view jumping back into the older blue band as an over-extension of the market and leaving the new yellow band in either direction would signal a change in trend and attention in the market needed.
Pitchfork/channel analysis is about spotting trends and measuring trend changes as the chart evolves.
Identifying support and resistance will also give good indications of where there will be turbulence and direction change in the market.
Bitcoin is in an upward trend. I would view jumping back into the older blue band as an over-extension of the market and leaving the new yellow band in either direction would signal a change in trend and attention in the market needed.
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Check the -related Ideas- "Pi Cycle Top" to see how my last $btc chart played out
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