We are running into strong support at about 610, and possibly a double bottom on BTC-E and Bitfinex. If it makes it past these levels, watch out because that would indicate to me that the bull run has turned bear and would threaten the sanctity of the long-term log trend line.
There's a short-term bear trend developing, which comes to a point at the long-term log trendline. If it breaks that trend line, I'm expecting all hell to break lose. If it breaks up, then I believe that is an indication it is ready to break resistance at 680.
Ultimately, the long-term log trend line has been reliable support, and I see no reason why it should change now. In other words, moon.
PS - I'm still pretty new at this. How do you pick the exchange you want to use on the chart?
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Comments
LastBattle
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Agree on the moon ;) I'm constantly buying in no matter what now with whatever I have, way too risky to short ATM...
On tradingview.com simply type 'BTCUSD', and you'll see the list of exchange ;)
MoonTrader
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Thanks for the comment.
I found the list, but it still defaults to Bitstamp when I want to make a chart.
On tradingview.com simply type 'BTCUSD', and you'll see the list of exchange ;)