When It comes to trendlines a clear pattern can be seen. At first the price attemps an insane break above the line moving over a $100 in as little as a few days, usually fueled by some bogus "good news" yet it is unable to close above the trendline on the first attempt as it moves too far too quickly, a massive selloff quickly ensues.
On the second attempt a break above the trendline is within reach as it is usually less than $50 away This easily enables a healthy and sustained break above the line that previously supressed the price.
Im thinking that we will break above the 451 downtrend line within the next few days as the branch is a little lower now for us to grab the fruit!
As we have had the second highest volume during the week of the 152 decline this signifies a bottom, so upwards movement from here on is likely.
Check out the linked chart for an indepth explanation into bitcoin bubbles
Happy Trading!
On the second attempt a break above the trendline is within reach as it is usually less than $50 away This easily enables a healthy and sustained break above the line that previously supressed the price.
Im thinking that we will break above the 451 downtrend line within the next few days as the branch is a little lower now for us to grab the fruit!
As we have had the second highest volume during the week of the 152 decline this signifies a bottom, so upwards movement from here on is likely.
Check out the linked chart for an indepth explanation into bitcoin bubbles
Happy Trading!
