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RE: Bitcoin Technical Analysis: WAITING FOR A NEW TREND

in #cryptocurrency6 years ago (edited)

Thanks for your thoughts. You seem to get a bit out of sight, that BTC has been around 1K$ for quite a while in 2017, so even if it dropped to 3K, it would still be considerable gain. Those who think 6K is low, only focus on the bandwagon trip from q4/2018, this is not all of BTC history though... take a look at that and you will see btc has been around 300$ for years!

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It is low, in light of the fact that if you follow BTC history back to the beginning, it has a very strong general up-trend. You can't compare BTC to a static value because it should be rising. For BTC to drop to 3k now would be to break through every trendline established to far. If you go through my posts you'll see that I specifically look long-term and track BTC progress over such time scales.

Yes you are right, there is a longer term bullish trend. But has that trendline reached 6K already? I am not so sure about that?