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Bullish signs:
BTC is sitting on the bottom trend line of the Log growth curve. Historically it has always obeyed this line so going by that it can only go up from here. But that's in theory.
Just made a golden cross on the 20/50 DMA.

Bearish signs:
Trapped in a descending triangle.
MACD looks to be poised for going under again and the RSI is flashing just above average.

What will it be? Who knows but it will be interesting to see which set of signs rules this roost!
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RickH1710 cryptospawn
@cryptospawn, fam it already broke it, bitcoin already was useless now we have confirmed that it is also not a store of value. It is litterely following the same pattern as the dow jones.
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cryptospawn RickH1710
@RickH1710, perfect. Now maybe the useful and much more sophisticated coins can move forward and take their rightful place in crypto. Let that 8 track player coin die once and for all. Seriously.
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spammer21 Protixder
@Protixder, that's a descending triangle. Descending triangles always break bearish.
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cryptospawn spammer21
@spammer21, correct. and this time it was no diff. No contest.
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cryptospawn spammer21
@spammer21, so seeing as we are stuck in a long term descending triangle that began back in 2017, what do you think is the long term direction of BTC? Say the 1 year TF?
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spammer21 cryptospawn
@cryptospawn, bottom below 2000 USD (1800 or 1300) and new ATH within 5 years. If covid19 ends up causing massive lockdowns in Europe and the US, bottom below 1000 USD and new ATH within 10 years.
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cryptospawn spammer21
@spammer21, Miners are shutting down already. We're reading about it all over the internet. Relatively new mining rigs are now inadequate to mine today and the halving has not even arrived yet. Miners who want to stay in the game need to desperately upgrade rigs to stay competitive, but with the price falling due to Corona and the impending halving, most mining companies cannot afford to upgrade their rigs. Once the reward halves and the money miners are making is cut further in half, we will see miners dropping off like crazy. With the mining difficulty becoming easier though block confirmations may once again be delegated down to the small guys like us. But this will inevitably put a wrecking ball through the price of all crypto. Let's see where it all goes. But I have some bank on the side for a black Friday style crypto shopping spree when it all dumps to shit. Stay healthy spamm. You're going to need a lot of years to enjoy the harvest.
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