Post
Topic
Board Speculation
Re: I personally think bitcoin is bullish right now.
by
pooya87
on 15/09/2018, 04:30:34 UTC
Obviously we are in a downtrend
first of all we are NOT in a downtrend. second of all you just contradicted yourself. we can't be on a downtrend and be bullish at the same time! Cheesy
i believe you are calling the "small drop" a downtrend which is a mistake. a downtrend is a trend not just a drop.

Quote
when you look at the weekly/daily chart you can see we are basically in a descending wedge which is, technically speaking, a bullish indicator.
i am no good when it  comes to patterns but this doesn't seem like a descending wedge to me. for a couple of months now the high and lows are pretty much the same with the bottom at $6k. which makes me to believe we have not yet started to be bullish.