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RE: I wouldn't be surprised if Bitcoin enters its next parabolic phase starting now

in #bitcoin • 5 years ago

That chart has gone around quite a bit this week and the concern is that unlike others, it does not demonstrate a breakout from the bearish trendline. That could support another test downward which would truly wipe out plenty of sentiment and HODLers. However, it could be the capitulation event and even a V shaped bounce that could happen.

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5 years ago in #bitcoin by
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     5 years ago 

    If you draw your line from the peak in Dec. of 2017 it looks like it breaks the downtrend to me?

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     5 years ago 
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       5 years ago 

      There is some subjectivity with line drawing of course. Though everything I look at and the way I draw my lines, including the volume with which this surge happened, I am going to say that downtrend line was broken.

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