altcoinbonanza
Short

Breaching our 14 month resistance trend line?

BITFINEX:BTCUSD   Bitcoin / 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.
JeroenHouttuin
2 years ago
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
2 years ago
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.
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JeroenHouttuin MoonTrader
2 years ago
Probably... The way i see my trend line, we've broken above it though :)
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MoonTrader JeroenHouttuin
2 years ago
It really depends on how you draw it. There's no confirmation yet, though.
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altcoinbonanza MoonTrader
2 years ago
moving up nicely MoonTrader
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MoonTrader altcoinbonanza
2 years ago
Whoops, guess not. ;)
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