sanuwat25
Long

BTCUSD second attempt to break the last resistant trendline

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
On linear scale, BTCUSD price is trying to break through one of the major resistant trendlines . It has in fact been able to stay above the line for a few hours now making it quite likely that the price will increase further.

For those who is looking for an entry this would be one of the entry.

Though, if you change the scale to logarithmic scale and draw the same resistant trendline , the resistant would still be 1000 USD away. From my experience, the logarithmic scale tends to work better for BTCUSD price and so I wouldn't say BTCUSD is back on the uptrend. I would consider it being back uptrend when the price can stay above 12500 which is the current resistant trendline on the log scale.
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