Bitcoin price analysis | Aren't we going up from here?steemCreated with Sketch.

in #bitcoin6 years ago (edited)

Aren't we going up from here?

We've been going down for weeks now, its depressing.

The RSI (bottom part) tells me we should be going up soon. Look at how incredibly low those 2 lines at the bottom are - historically this has indicated the price will soon go up.

It will all come down to the thin white and yellow lines:

White=medium term trend
Yellow=long term trend

If white stays above the yellow line, we most likely continue the bull trend (up).

If it dips - we could be in for a long period bear market (down).

Charts: https://bitcoinwisdom.com/markets/bitstamp/btcusd
3d chart.

Take a look at history:

Look at the green and orange lines at the bottom, the MACD.

Green=medium term price trend
Orange=long term price trend


2013


2014


2017 / 2018

You notice how every time the medium term (green) dives under the long term (orange) we're in for blood on the streets?

I'm watching this closely.

My feelings say the bull market is alive. Sentiment is still good, the belief is still here.

But if the green line crosses downward - we could be in for a longer run down.

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