Turning bullish

Just a quick post this one. Thought it worth sharing this view of the bitstamp chart with 2 hour candles instead of my, more normal 1 day charts.

On this view you can get a closer look at how the context looks to be turning more bullish. Theres been another break out above the upper parallel red trendline. Also it looks like there may be the beginnings of a new upwards pointing slope competing with the bear trend which I’ve marked in green lines. I still like the hypothesis that the bears are running out of steam.

Edit: At request from ‘BitPump’ heres a look at my updated log chart which dates back to 2012

Good call to look at log view again. There is a trend line on the log chart which we haven’t broken out from yet but look where support seems to have been found, right where you expect it! Looks like this will resolve either up, (or down) fairly soon. You can probably guess which way I think it will break.

5 thoughts on “Turning bullish

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