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RE: Bitcoin TA - summary of analysts - 15. Apr 18
Another great post famunger. Keep it up. I'll feel much better about this uptrend continuing once we breakout of the descending triangle on the LOG scale chart. I think many ignore this chart. It's getting close, has you can see on the 4hr LOG scale chart:
I totally agree - To be honest I am personally not so bullish. Also if you zoom out and go on the weekly it doesn't look bullish at all. But it is always a matter of time frame - short / mid / long term. I can see that we rally up for now - but that the bear cycle is over - I am not so sure. I need to improve on that bit in my post.
Also the post and sentiment reflects just those of the majority of the analysts.
I understand. Honestly, I think BTC will remain above $7,500. I'd be surprised if it dropped below that point again. It might bounce between $7,500 and $8,500 for a period. We'll see. The big uptrend signal for me will be when BTC breaks out of the descending triangle on LOG scale.