PaulAnthony
Long

Bitcoin Battle Zones

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
335 views
3
multiple indicators are indicating a shift from bear to bull territory. as we make our way into bull season, it's good to mark the important price points where bitcoin may encounter resistance. black lines indicate previous historical highs while blue lines indicate big round arbitrary numbers (800, 900, etc...). i've omitted the big round numbers where they're close enough to the historical highs ($710 ~ $700, $995 ~ $1000). i expect these areas to be important battle lines for bitcoin in the near future. definitely important areas to keep an eye on as we slowly enter the bull season. another way to see these lines is further confirmation of bullish sentiment. every time bitcoin breaks through one of these lines, it's a strong signal that we are in a bull trend.

Comments

And what about that long term Jan 2013 support trendline that we keep testing and is currently hovering just $30 below spot price with near term momentum indicators and market structure all pointing towards a bearish next few days or week. Is that bullish also?
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PaulAnthony Matderkater.
if you're talking about the logarithmic trend line, that's another line i keep track of on bitcoin wisdom.
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Nice graph, thank you.
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