Topic: Are be breaking long-term trendline? - page 2. (Read 2599 times)
What if it breaks sideways and nothing happens? Does that count as breaking downwards even if price just stays flat? Because pretty sure that's happened a couple times already.
Check this graph on Tradeview, made by levi.grant
https://www.tradingview.com/v/TaXhiCbu/
He basically sais:
We are running into strong support at about 610, and possibly a double bottom on BTC-E and Bitfinex. If it makes it past these levels, watch out because that would indicate to me that the bull run has turned bear and would threaten the sanctity of the long-term log trend line.
There's a short-term bear trend developing, which comes to a point at the long-term log trendline. If it breaks that trend line, I'm expecting all hell to break lose. If it breaks up, then I believe that is an indication it is ready to break resistance at 680.
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610 on Bitstamp as we speak.
https://www.tradingview.com/v/TaXhiCbu/
He basically sais:
We are running into strong support at about 610, and possibly a double bottom on BTC-E and Bitfinex. If it makes it past these levels, watch out because that would indicate to me that the bull run has turned bear and would threaten the sanctity of the long-term log trend line.
There's a short-term bear trend developing, which comes to a point at the long-term log trendline. If it breaks that trend line, I'm expecting all hell to break lose. If it breaks up, then I believe that is an indication it is ready to break resistance at 680.
---
610 on Bitstamp as we speak.
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