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 […]
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 […]
My last bitcoin post showed support after the silk road auction panic. That support was found just about precisely on the bottom trendline of the bullish longer term log channel I’ve often referred to on this blog. My fears that log trendline might might be broken seem increasingly unfounded, theres been no retest of that […]
Real money silver has broken through to the other side .. The huge manipulated wedge looks beaten as predicted. Expect all the usual shanannigans in the media and financial institutions to try and keep it repressed. The unprintable achilles heel of the bankers won’t be denied.
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 […]
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 […]
I know this kind of goes against the idea I had in my last post but looking at the way this rally has progressed so far it has been a steep rise followed by a pennant, ie flag pole and pennant continuation pattern repeating. At the moment it looks like another pennant could be about […]