Looking at the long term trend we can see that it is still intact. The BTC move today tested the line and we should see a rally to the upper trend line again now.
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Just as a bit of additional information. This chart is using a logarithmic scale, not a linear scale.
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I believe we are in an accumulation phase now, gathering more strength for the move up. We have tested the base of the leg that took us to 11.5k now and we are nearing the cross of the long-term trend line and the trend line that took us down from 20k to 6k ... I'm still bullish
people been insisting that trend lines intact since 22 December 2017..and a new trend line been drawn with every dip..I am looking forward for this one to be broken soon even though it has already been broken in early Feb..
Nico.Muselle
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@elshanti, on the linear chart indeed it has been broken, and we are testing the back side of it now. However on the log chart we did not break it yet.
elshanti
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@Nico.Muselle, imo..BTC needs AT LEAST to test the adoption channel (it not its bottom) before it continue/start a bull run..this is what happend every time it went parabolic out of its adoption channel
elshanti
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@elshanti, the adoption channel starts from the dip of the previous cycle and once its broken at the level/point of the previous ATH it goes parabolic..A big correction/crash occurs after parabole blow off and it tests the channel.. however a bounce from the adoption channel top only happend in 2013’s 1st crash.
DrDan
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Love an update and some more of your thinking process
Nico.Muselle
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@DrDan, update posted today, thanks for visiting !
D-tech
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Hello, I'm the guy asking about the RSI in Twitch. I'm using my sons account on Twitch because I've never used it.