altcoinbonanza
Short

Breaching our 14 month resistance trend line?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
126 6 1
I'm looking at this 14 month trend line and trying to understand if we are in a critical, possible downside here. I really thought we were passed this trend line but once I revisited (thanks to MoonTrader) this resistance line I saw that we were still in a bearish channel .

Kudos to MoonTrader and his charting.
I think we broke above that on Feb 27. Or are you using a logarithmic scale on your charts?
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MoonTrader JeroenHouttuin
We can see the trendline in either linear or log depending on how you draw it. If you connect the 2 lower points in the linear, then it's not a stretch to draw a parallel line that fits the upside rather nicely. You can draw the log trend line all the way from the peak to now and it's never been breached.
Reply
JeroenHouttuin MoonTrader
Probably... The way i see my trend line, we've broken above it though :)
Reply
MoonTrader JeroenHouttuin
It really depends on how you draw it. There's no confirmation yet, though.
Reply
altcoinbonanza MoonTrader
moving up nicely MoonTrader
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MoonTrader altcoinbonanza
Whoops, guess not. ;)
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