Post
Topic
Board Speculation
Re: When will the price of Bitcoin break below the $6,000 support level?
by
pooya87
on 27/09/2018, 04:02:34 UTC
If you look at the chart of the Bitcoin price, it has formed a clear descending triangle with support at about $6000.

no i don't see such triangle anymore. there were one a couple of months ago that people were excited about thinking it will drop below but it has been a flat line more or less ever since. not to mention that so far in this 9+ years TA never worked on bitcoin like you think it works!

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Resistance is keeping the peak of each bullish run lower than the previous one for the past few months.
there was no bullish run Cheesy
the thing is the fluctuations created by day trading whales which makes price go above $7k then come back to $6kish and rise and repeat is not real trend and it certainly is not "bullish runs".

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If I can find a good chart to post, I'll add it in later.
there you go: https://bitcoinwisdom.com/markets/bitstamp/btcusd