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RE: I Just Want To Share This Bitcoin Chart With You All - AND Predict The Price Of Cryptos In 2018.
Zoom out a bit, redraw the bottom line, and you'll see we are well clear ;)
Zoom out a bit, redraw the bottom line, and you'll see we are well clear ;)
Something I find pretty interesting. Call it a coincidence if you like. Notice how by extending the bottom of the triangle that I drew back through the left of the chart that it hits the early 2013 high (marked by a blue arrow), perfectly.
https://www.tradingview.com/x/CY5Vjt7B/
I don't know if there's an official name for these types of trendlines, but I've always called them "pivot trendline" (trendlines that get tested from both sides, both as a resistance and as support).
Ha ha, it does indeed! I would, however, chalk that one up to coincidence.
Sadly straight lines don't work well on crypto charts on periods of over a year long. Even on logarithmic plots. I showed how a long-term crypto trendline looks back in my very first post https://steemit.com/bitcoin/@bitbrain/crypto-markets-march-2018-up-or-down and I've elaborated on it many times since in some of my other posts. Take a look and see what you think.