I have given up looking at these trendlines all together. They are useless, and may only serve the so-called experts to prove how nicely trendlines supposedly work. However, as a rule, they tell us how good trendlines work after the market has moved in either direction.
If you flip a coin, your chances are equally good at guessing whether the market will break the imaginary trend line or not.
Like the others have said, probably one of the biggest flaw of trend lines used in TA is they are everywhere. You can draw they everywhere, not to mention if you change the time frame, new and new trenlines seem to appear out of thin air and populate the chart.
Topic: Possible crucial event? (Read 187 times)
Lol... 
The line is just like any other line drawn , such as trend line which can be redrawn anytime price breaks it, to look for another point.
Just like support and resistance too which can change with price.
The line is just like any other line drawn , such as trend line which can be redrawn anytime price breaks it, to look for another point.Just like support and resistance too which can change with price.
Maybe the OP is finding some correlation, but as we say here, we can't really rely on TA alone because this market is based on pure speculations and sentiments change in matter of minutes.
Just like we have seen in the last couple of days, we are about to break the $4k barrier with no news at all. We might see green candles forming, but it doesn't mean that we're about to break and goes for a bull run.
Lol... The line is just like any other line drawn , such as trend line which can be redrawn anytime price breaks it, to look for another point.
Just like support and resistance too which can change with price.
The line is just like any other line drawn , such as trend line which can be redrawn anytime price breaks it, to look for another point.Just like support and resistance too which can change with price.
no one knows about the next prediction, but the big popes are involved with the movement of the wax chart, I think this line can still go down even further, if the popes continue to dump , please find pope in this world and if you succeed, say to re-pump green candles to fly to the clouds haha lol,
I hope that 2019 will be the recovery time of green candles from bloody assets, even though it takes a long time to recover.
Is there actually something special about that green line?
There isn't. If we didn't break yearly support last year that green line would be positioned differently, and the most important thing is that once again, it's a line drawn afterwards.
Currently we're past the date the market found its all time bottom back in 2015 and it's doing exactly what it did back then, which is move sideways, and I expect this to drag on for a couple of more months. At some point the sellers run out of ammunition (if it didn't happen already) and we'll see the price slowly but surely find its way up.
We have gone through a brutal selloff last year, how much more is there still to sell? At current levels it's way easier to support the price than when it was hovering over the $6000 level.
We are moving sideways as of now or accumulation period. People do thrown out lots of speculative technical analysis on this condition but pointing out precise on where
price would go is the hardest part.For now the thing we can do is to wait up on how things goes.
Is there actually something special about that green line?
There isn't. If we didn't break yearly support last year that green line would be positioned differently, and the most important thing is that once again, it's a line drawn afterwards.
Currently we're past the date the market found its all time bottom back in 2015 and it's doing exactly what it did back then, which is move sideways, and I expect this to drag on for a couple of more months. At some point the sellers run out of ammunition (if it didn't happen already) and we'll see the price slowly but surely find its way up.
We have gone through a brutal selloff last year, how much more is there still to sell? At current levels it's way easier to support the price than when it was hovering over the $6000 level.
I mean, just as always, it's just either it will rise, drop, or it's going to continue to flat out from here. Is there actually something special about that green line? I mean, you could probably draw the same line at multiple different price points and they don't necessarily end up with a "crucial event". Time will tell I guess?
Agreed. Dozens of lines like that bitcoin broke already. It is said by experienced traders ... If you want to trade technical firstly check if chart act technically. Simply ... bitcoin was not in uptrend to turn to downtrend. Bitcoin was in bubble formation breaking one uptrend and another and another. now its in burst-bubble one and is breaking one downtrend by another by another and none of them are crucial because bitcoin is not asset that act technical ... at liest according to trend lines.
I mean, just as always, it's just either it will rise, drop, or it's going to continue to flat out from here. Is there actually something special about that green line? I mean, you could probably draw the same line at multiple different price points and they don't necessarily end up with a "crucial event". Time will tell I guess?
The chart for those who's lazy to open the tinypic link:
The chart for those who's lazy to open the tinypic link:
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