This chart is to see where some key trends are forming support, breaking below the logarithmic all time channel would be really bad but that is really unlikely for the time being. If we are in a bearish triangle we could see a bounce around 5k to 6600-6700 then down to 3000. This would be valid until we see the logarithmic downtrend line being broken upwards, this wouldn't mean the market turns bullish all of a sudden but will consolidate at a higher level.
My prospect is and stays that 2018 is a bearish market, and we have to consolidate (reflection phase) what crypto will bring for the future. Future is still blank, stay objective and trade important reversal signals to gain money instead of losing it.
Feel free to join my telegram or twitter below in my signature! Here I post much more frequently.
Good luck trading,
TheTrex
My prospect is and stays that 2018 is a bearish market, and we have to consolidate (reflection phase) what crypto will bring for the future. Future is still blank, stay objective and trade important reversal signals to gain money instead of losing it.
Feel free to join my telegram or twitter below in my signature! Here I post much more frequently.
Good luck trading,
TheTrex
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This is what I mean with the triangle waves.
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These longer time-frame indicators don't lie, short-term we can see some minor upward breakouts, but in general the major trend is still heavily bearish. You can try to trade the swings, but be careful doing so.
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Multi-timeframe MACD
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New Idea