2. Bitcoiners are following a false (dotted green) which is not a good because it was drawn against a single wick from a flash crash rather than against the bodies of the candles. The real (solid green) has already broken and become resistance.
3. Even the false (dotted green) is being tested too much and looks like it's about to break. If it is broken, the next identifiable on the chart is the solid blue line.
4. The is declining. The of the last rally was extremely low compared to the previous declines in this same price area. As far as I know there hasn't been a significant expansion in exchange structure away from since then. Actually the has been going down on Chinese exchanges so it should be INCREASING on .
5. The overall is curving down. it shifting from an uptrend to a downtrend when it hit its peak in April 2013 and is making lower highers and lower lows.
6. The stock is in a trend of lower lows, longer bear markets, and shorter bull markets. If the pattern is to be followed, then it is possible that the current 'bull market' is already over.
7. The weekly went negative and the weekly EMAs crossed down for the first time since 2011.
8. The recovery looks ugly and choppy versus the recoveries of previous years which had neat and clean penants. The peak of 548 in April was breached with a decline to 537. The decline should have been significantly above the peak, for example 570 - not breached it.
Longs should hope that we cross back above that cloud really soon.
you are right
the more a trendline is tested the more important and stronger it is.
Point 2 and point 3 of Terrra are definitely wrong
Do you really think we go to the blue line anytime soon? Things are not rosy at the moment, but such crash still seems impossible now, imho. I was envisioning dropping to this line in about a year, when it will rise to today's price.
Any insights appreciated. I still have a lot of fiat that I can potentially invest in bitcoin, if there would be a good buying opportunity (so far have been buying in the 434-562 region)