Reminder of bullish factors: - end of falling wedge - breakout completed - huge bullish divergences - blue pill (Hash Ribbons indicator, not in this chart) - bottom found (Puell Multiple indicator, not in this chart) - reversal signal (Network Value to Transactions ratio, not in this chart)
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and also: - double bottom
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increasing volumes
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Breakout still under consolidation.
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breakout and throwback completed
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List of bullish factors: - double bottom - end of falling wedge - breakout and throwback completed - huge bullish divergences - FIBO retracement 78.6% since march 2020 - increasing volumes since june - blue pill (Hash Ribbons indicator) - bottom found (Puell Multiple indicator) - reversal signal (Network Value to Transactions ratio)
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Very bullish news: Google partners with Coinbase to accept crypto payments for cloud services.
Arithmetic chart is not very valid and does not show the reality of the market well, so you should use logarithmic mode.
Bitcoin_Weather
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@dashtestaninejadmilad, Absolutely wrong ! The logarithmic scale is a mathematical tool (in technical analysis) that allows you to see small price structures that are not visible in an arithmetic scale when the price gaps are too large over long periods of time. When the price structure is perfectly observable with an arithmetic scale (because the price differences are small) then you should never use a logarithmic scale which will modify the price structure and therefore distort the right trend lines.
Hazzantazzan
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i still insist that your chat doesnt correlate ... this is why you think there is a breakout already... from the chart on trading view on daily tf, that trendline from 69k ath passing thru 48k is so far away from 23k to touch it and break out just yet. im unable to attach image here
Bitcoin_Weather
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@Hazzantazzan, I also insist, you are still wrong, show me your Bitcoin chart (just take a snapshot with TradingView tool and then you paste the link in your answer, it's very easy).
The_Wedger
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YES!! And f*ck macro economics because they dont matter!
Bitcoin_Weather
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@LeonSwart, This year the crypto market was well synchronized with the equity market so Bitcoin was subject to macro events, but this has not been the case for several weeks.
The_Wedger
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@CrypTrader31, Dude, just look at the moments in the BTC chart when CPI or rates are announced and compare it next to the S&P500 chart. What do you see?
Bitcoin_Weather
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@LeonSwart, Dude, that's what I said, there was synch for several months but the crypto momentum has changed, as evidenced by the outperformance of Bitcoin against the S&P500 in recent weeks.