trendline

Long term bullish trendline support

We are right at the long term bullish trendline support. Will we bounce this time or roll over? For the past few month, bitcoin has not been moving much (with respect to past bitcoin volatility) ranging from 680-560. If we do break trendline, I think the market will be choppy. If the market does honor the trendline, Market should go up and test the high of this run at 685

 

short term trendline provide resistance on the hourly. Bitcoin trading

Short term bitcoin traders:

We clearly see a downward trendline on the hourly chart. The trendline has been touched 4-5 times. A trendline like this obviously suggest more aggressive selling than buying in the short term. If bulls cannot break above this line, I am afraid we will fall lower. A strong breakout, IE large volume, fast rise, will breakout of this formation. You can follow me on twitter @ibankbitcoins

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