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 scale

Anyones guess what will happen next, with uncertainty over the FED bitcoin auction still looming will the unthinkable happen and bitcoin slide under that trendline ? I’m not even going to try and guess but it does look a possibility. In the world of bitcoin nothing can be taken for granted, even the log trendline.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s