Log trend fail

Shown above, the the grizzly chart in log price scale. The beloved Bitstamp log channel isn’t holding. Who’d have thunk it ? Heres similar chart with linear price scale against my familiar trendlines. I hate being bearish bitcoin but at the moment its not looking great, that log trendline was quite an important line in […]

Retesting the log trend

As usual I opened my mouth too early in my last post talking about how the log trend hasn’t been retested. Since that post bitcoin hasn’t been convincing at all, fell through the support I mentioned and is now heading down for that retest afterall. Heres bitstamp data with 1 day candles on log price […]

Support held, for now

In the wake of more negative news bitcoin has dropped back down to the bottom of the same log channel which marked the lows back in April. Today the same trendline lies at $555 which is being tested now. Its nice to see support on that line but I have a feeling price may well […]

Bitcoin down

Well in exact polar opposite of my prediction bitcoin has plummeted down almost 10% so far, at time of writing looks like could be still heading down or maybe might be getting some support on bottom one of my green trendlines. Obviously this has surprised me, so I turned to forums and found rumours the […]