I don't really interested in small fluctuations of btc price, day trading or scalping. I'm interested in fact are there global perspectives on this cryptocurrency and in what price level is going to be in the future.
I hear from many traders, that there would be mass adoption soon, but actually situation has not changed much after the fall of MtGox. Bitcoin set...
We bounced off the logarythmic trendline that is going since the year 2011 for two times recently. It's high chance that now we will go down to the next to the bottom of the current channel once again before bitcoin will go up. But if the bottom if the channel would hold and there would be bounce off the 6k mark - it would be a good sign.
So BTC didn't fall too far under 6000, and the chances are high now that it wouldn't.
We can see now, there is much more inclined channel, than even PentarhUdi showed. And we are climbing up at the very bottom of it.
All we need is to stay in this channel and don't fall under 7000. Several months in 7000-10000 range - and then we can go up to a new highs.
We have fallen from descending triangle , but now we locked in the falling wedge formed by strong downtrend line since all time high. We can bounce from it once more at ~5500 level and break the falling wedge up. And we are holding strong even now at 5850 level.
Good news: we bounced at 6K level. If we would go north, this would be like triple bottom. We didn't break down 6K level for four months already.
Good news 2. We bounced upward at major downtrend started in december.
Bad news: We broke longterm support line that stayed intact from October 2017. And we are still way under 200SMA etc.
I think it's more likely...
1. We didn't had a breakout of current downtrend on logscale yet. If we get to 8800-ish next few days, it would be clear, will we break this downtrend up, or go down again. If we break it, we could have a nice bullrun then.
2. Which way the current situation resembles more? The downtrend of 2013, when we continued to go up soon after breakout, or downtrend of...