2x-Short
Short

BTC failing @ long term downward trend line.

BITSTAMP:BTCUSD   Bitcoin / Dollar
205 3 6
We can see long term downward trendline consistently rejecting bulls. I am currently short and i will be buying btc @ 235, 250,260.
Justlite PRO
2 years ago
It seems you arbitrarily drew a trend line that suits you. The top line doesn't include the peak at $1153 and it intersects tips on some and body on the others candle sticks. The lower trend line touches tips.
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MoonTrader Justlite
2 years ago
It doesn't necessarily have to include the peak. Trendlines don't have to be perfect. This one runs from the $995 peak after the bubble, which is a very important level with lots of bagholders, so it makes sense to start the trendline there. The fact that it runs through the tip of the $450 bull move doesn't invalidate it because we can see that the price still seems to be responding to it. The lower one touches all tips, which is a valid way to draw a trendline.
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kenzboard
2 years ago
seems like this graph is still valid. only a week or so out until the end of the falling wedge (3/3/15). the buying points are remarkably accurate at this point and time too ***bravo*** i'm still stubborn to believe we're out of the bear cycle yet...but the next week could prove me wrong.
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