On May 15th I drafted a bitfinex daily chart with three trendlines that originated from the pendant leading to 9.9k and from the selloff shortly after 9.9k. These trend lines intersected, in the yellow zone, with the major daily support that we have been following since November. Since publishing, BTC had sold off 15.5% with a max drawdown of 3.4%. Now upon review it appears we may be breaking downtrend shortly with tight 12 hour bands.
Do you think this was just luck or that we can apply this to future charting?