Bitcoin trying to break the downtrend...

in #bitcoin4 years ago (edited)

Bitcoin about to get bullish again?

I wouldn't call this an Inverse Head and Shoulder Pattern, but a break of the downtrend is bullish never the less.

Check this out:

image.png

(Source: https://twitter.com/rovercrc/status/1510645225722716177/photo/1)

So far we are right around that line and I am not sure we have really broken it yet, it all depends on how you draw your lines.

The lines above are drawn pretty aggressively.

If we can break this line we should have a nice move higher, one that probably challenges $51k or even $53k.

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This already failed.

every bounce fails

every time

bitcoin bounces, then dies

the pain is awful

looks lower before higher

trend lower continues

held 42k, then 40k, now under that

keeps drifting lower

Now 1 BTC= $46944.88, also it in a bullish trend.

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