G1979
Long

BTC is slowly changing trend

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
610 views
15
610 8
BTC is slowly changing trend! In 2 months bears could not produce a lower low, considering this year trend has been bearish , it looks as bears have nothing to sell anymore!
Only MT-Gox coins will create drops like the last one. Good luck, and HODL now
Comment: The idea of this chart, if we look at the price of the date 14-15th of August, BTC price should have gone lower at 5.4k, but stopped at around 5.9k! The opposite is the the last 7.4k BTC reached on 3rd of Sep. It touched the line! Wouldn't it be a very bearish sign if BTC stopped at 6.9k and turned down? The line drawn is an idea, that shows the bears can't push the price down as they may like! The bears should push the price to 5.2k if BTC is to move inside the bigger lines. Even that, it's a matter of time that BTC price will move out of these lines of 7 months now! My opinion is up, after MT-Gox coins are sold, i think BTC will slowly start to move up! Anyway, it's just my opinion! Good luck
Comment: By the way, the 26k target, is just calculated historic numbers, there is nothing based on charts there!
looks like trendline didn't hold, they are the worst indicator
Reply
@Broom, They are really good but not when we force our personal bias into the analysis.
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G1979 ShounakShetty
@ShounakShetty, you may say the line was drawn wrong....the line is holding
Reply
@G1979, Yes I could say that too, wick to wick line is at 5925.
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G1979 ShounakShetty
@ShounakShetty, yep. I hope we won't go there, if that breaks down, 5.2k on line
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agreed
+1 Reply
keep drawing those up arrows
Reply
G1979 jostitrade
@jostitrade, lol...that's what it is...nothing ore or less
Reply
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