Quote from: pooya87 on September 15, 2018, 04:30:34 AM

Quote from: Bardman on September 10, 2018, 10:12:11 AM

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.

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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.

Yes we are. ''A downtrend occurs when the price of an asset moves lower over a period of time. While the price may move intermittently higher or lower, downtrends are characterized by lower peaks and lower troughs over time. ''

And I'm bullish simply because the pattern is getting tighter and tighter so a big break is coming soon.

''for a couple of months now the high and lows are pretty much the same with the bottom at $6k.'' Not really, weekly highs are pretty clear, 12k - 10k - 8.5k - 7.4k
The lows have been pretty much the same but I consider that stronger than if they were lower and lower.