So, there are many charts to be seen at the moment on tradingview, showing this latest longterm trendline, and how BTC will certainly bounce off it, giving us a low of around 4500.
However, if we look at BTC historical data, we can see, that bitcoin already had 2 trendlines of this type, which both were broken.
The first one starting in 2010 until 2011, the second on was a 2 year trendline from 2012 to 2014.
I think the same will happen again. People just give too much credit to these longterm lines, and I think the longterm bitcoin growth is not a line in the log chart, but a square root function, meaning
that the steepness of the longterm lines will get lower and lower.
A more accurate indicator for finding the low is imho the weekly MA200 line, painted in solid red. This line will offer extremely solid support, just like it did in 2014-2015.
BTC will probably rest there for a while in 2019, before it comes back with brutal strength for the next epic bullmarket.
However, if we look at BTC historical data, we can see, that bitcoin already had 2 trendlines of this type, which both were broken.
The first one starting in 2010 until 2011, the second on was a 2 year trendline from 2012 to 2014.
I think the same will happen again. People just give too much credit to these longterm lines, and I think the longterm bitcoin growth is not a line in the log chart, but a square root function, meaning
that the steepness of the longterm lines will get lower and lower.
A more accurate indicator for finding the low is imho the weekly MA200 line, painted in solid red. This line will offer extremely solid support, just like it did in 2014-2015.
BTC will probably rest there for a while in 2019, before it comes back with brutal strength for the next epic bullmarket.
노트
Ok, tradingview is super slow today and I uploaded the chart twice by mischance, sorry.
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이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.