TradingView
SKG79
Apr 28, 2018 2:40 PM

BTC Pushing the ATH Log Trendline  

Bitcoin / DollarBitfinex

Description

This chart was inspired after watching the charting video (linked at the bottom), where AP used the daily close on a line chart to establish the ATH Log trendline.

As you can see, we came back to the 0.786 and and now pushing both the 0.618 and trendline.

In the video, AP applied this approach to the 2014 bubble, but found nothing interesting. However, I have placed the points with extreme accuracy and find that the bear market of 2014/15 ended when the ATH trendline was broken.

I'll attach an image in the comments.

Comment

Comment

A comparison with 2014. Arrows indicate line attachment points

Comments
Hubris
Great analysis...thanks for sharing.
SKG79
@Hubris, no problem. I'm curious to see what happens if and when we break out.
Techmology
That's an interesting idea! I'll have to toy around with it. Thanks!
SKG79
@Techmology, zoom right in on the daily and attach the point, extend the line to the right.
Techmology
@SKG79, sure. Right at the close line center no wick right?
Techmology
@SKG79, derp, line chart. nvm
SKG79
@Techmology, Cool. Watch the vid too. Youtube just popped him up. Good analyst.
kryptoman6
what price u guessing it will break throught?
SKG79
@kryptoman6, I really can't say. We're right up against resistance and if I knew the answer to that question I'd be mega rich ;)
More