Bitcoin finally out of the bear market ?

Bitcoin / U.S. dollarBitstamp

Description

⋅ Mar 7, 2015 3:02 PM

Here's a simple chart to see that last weeks may have pushed to an important milestone, in normal-scale (I usually use log.scale).

> In blue you can see the all-time support trendline
> in green/red the falling wedge, correction from ATH

IMO excluding less than 24 days spikes to draw TRENDlines is to be done, so you got my green and red bold lines.

Several times RSI's broken trendlines showed local top/bottom - better keep an eye on them.

Let me know what you think about this : real breakout or trend will make it come back in coming days ?

Bitcoin (Cryptocurrency)breakout normal-scale Falling Wedge

Comments

B33tcoin

⋅ Mar 10, 2015 11:13 PM

That's a very interesting falling wedge, but I think on high TF and such price variations you should use log chart. When investors and traders entrer, they think about risk/reward ratio in terms of % --> log