BTC weekly fractal - critical bullish point!

2018년 7월 19일

Hi all - just taking a step back on the daily log chart. Been working hard at building my TA knowledge and skills so as always please provide input as I feel that is the essence of this site. So here we go.... Seems like we are at a crossroads yet again for BTC. Again, on the log chart, we have broken out of the upper trend line on the weekly but will we repeat more of a July 2013 or May/June 2014 path? As you can see in 2013, BTC touched down to the 0.618 (also the trend line) from the preceding bottom before rising up on a bull run. In 2014, BTC never retested the trend line, continued upward before dropping down and ultimately sideways to the MAJOR bottom trend line, which is in red dotted. So again, this is just to give some perspective of an idea of where we are at historically. In the coming days I will be looking at how BTC interacts with the 100 day EMA.