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RE: I wouldn't be surprised if Bitcoin enters its next parabolic phase starting now
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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If you draw your line from the peak in Dec. of 2017 it looks like it breaks the downtrend to me?
Check this one out...
https://partiko.app/@marketingmonk/something-i-missed-about-this-crypto-price-pump?referrer=newageinv
Posted using Partiko iOS
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.