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RE: Bitcoin (BTC) Morning Update: Similarities to the September Correction & Recovery

in #bitcoin7 years ago

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Actually @haejin, I think we are hitting the top of a longtime, 2.5 month, downtrend channel. It remains to be seen whether the bulls can break us out of this channel. Until they do, I'll remain healthily skeptical:

https://steemit.com/bitcoin/@stew/until-we-hurdle-11-8k-i-m-still-bearish-here-s-why
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Your channel is not correct @stew

Channel is spot on. Which is why we are hanging at 11.5k.

I find it a little lower at this time than yours, but have not charted Bitstamp, as I see you do. Your chart would justify an upswing in the USD-BTC I did yesterday however, take a look :)

Trending lower volume while price trending down can be bullish. Regarding your notation. You can run out of willing sellers like @haejin noted here.