Are be breaking long-term trendline?

[wobber]

Check this graph on Tradeview, made by levi.grant

https://www.tradingview.com/v/TaXhiCbu/

He basically sais:

We are running into strong support at about 610, and possibly a double bottom on BTC-E and Bitfinex. If it makes it past these levels, watch out because that would indicate to me that the bull run has turned bear and would threaten the sanctity of the long-term log trend line.

There's a short-term bear trend developing, which comes to a point at the long-term log trendline. If it breaks that trend line, I'm expecting all hell to break lose. If it breaks up, then I believe that is an indication it is ready to break resistance at 680.
---

610 on Bitstamp as we speak.

[theonewhowaskazu]

What if it breaks sideways and nothing happens? Does that count as breaking downwards even if price just stays flat? Because pretty sure that's happened a couple times already.

[Ibian]

Sanctity? Blah. I can only wish for sub-600 coins again. In fact it would be better for me if we stay down here for several more months.

[RyNinDaCleM]

Not the long term trend line (Red). Just the acceleration channel trend line (Blue).



Sorry for the count! That was for something else.

[Dalmar]

What if it breaks sideways and nothing happens? Does that count as breaking downwards even if price just stays flat? Because pretty sure that's happened a couple times already.

It can go sideways until it meets the next major log trend line below it (the one from 2011), which imo is more sustainable. The silk road trend line is surely going to break, it has been tested far too often on low volume already.

[segeln]

Not the long term trend line (Red). Just the acceleration channel trend line (Blue).

+1
it is only the Rallyacceleration since 2013

before OP can call it a break:

an intraday or even up to 2 days-Violation is insignificant.

even a longer break could be a  "false breakout"

as for now I do not think it is a really market-driven break. It is just going sideways and the trendline goes up a bit day by day No momentum there

[segeln]

What if it breaks sideways and nothing happens? Does that count as breaking downwards even if price just stays flat? Because pretty sure that's happened a couple times already.

It can go sideways until it meets the next major log trend line below it (the one from 2011), which imo is more sustainable. The silk road trend line is surely going to break, it has been tested far too often on low volume already.

OMG,the trendline since 2011 ist about 130 $ right now.Hope ,we do not get that low.
The rallyacceleration (not SR-Trendline but China Trendline) ist strengthened by multiple tests not weakened.

[Dalmar]

OMG,the trendline since 2011 ist about 130 $ right now.Hope ,we do not get that low.
The rallyacceleration (not SR-Trendline but China Trendline) ist strengthened by multiple tests not weakened.

It can hover above it sideways for a long time and meet it at a higher point.

[peeveepee]

Still going sideways, not bullish or bearish.

[IIOII]

People tend to think that even with high market capitalization growth trend will continue like before. That is not reasonable, because with growing valuations more and more capital is needed to move the price.

You will see multiple trendlines broken in the course of bitcoins continued rise, because valuation growth will slow down gradually. However there's nothing to fear, because it will still be a stellar rise compared to any traditional investment.

[CryptInvest]

Nonsense. I recommend a look at the schedule for 3 years and everything will be clear. The trend is up.

[theonewhowaskazu]

i think the kower trend line will hold at an absolute minimum.

[painlord2k]

In my opinion, the 2011 trendline is improbable to be reached any time soon.
The 2013 trendline touching the SR minimum and tested recently was caused by the halving (reducing inflation from ~25%/years to ~12%/year).
The effect of the halving, couple with continuous new adoption by users and merchants, caused the exchange rate to soar as we know.
Silk Road, Cyprus, China were just catalyzers accelerating the increase of the exchange rate.

But, in these 18 months, inflation differential between BTC and USD is decreased substantially, from 5-6% difference to near zero yearly.
If the inflation of M1 continue to stay around 12%/year bitcoin inflation will trend down slowly from there for sure (because of the reduced increase of hashing power).
The current trend imply BTC inflation will be lower than M1 inflation by year end (maybe earlier).

Current inflation (this week) is the default value of design.
This imply it is 2% lower, if the price do not rise and mining start increasing again, than M1 inflation.

https://docs.google.com/spreadsheets/d/17Jjhd_nnfRJ9EyYuOM1ACPMwRod3hhPqRk4YQp7FIZE/pubhtml#

[Benjig]

Not the long term trend line (Red). Just the acceleration channel trend line (Blue).



Sorry for the count! That was for something else.

So it seems that we are at the border of a new rally going on, hope that trend continues 

[BitChick]

I think it is a good time to buy. 

Husband and I have told a few people that very think the past couple of weeks and they actually listened and have thrown several thousand in.  It should get interesting from here I believe.

[cinder]

I think it is a good time to buy. 

Husband and I have told a few people that very think the past couple of weeks and they actually listened and have thrown several thousand in.  It should get interesting from here I believe.

What is the reason for getting in at this point?

[BitChick]

I think it is a good time to buy. 

Husband and I have told a few people that very think the past couple of weeks and they actually listened and have thrown several thousand in.  It should get interesting from here I believe.

What is the reason for getting in at this point?

One friend I told about BTC last year and she just decided to buy now.

My husband was visiting his aunt in Vegas and mentioned Bitcoin and she wanted to know more and then decided quickly to invest several thousand. 

I think we are on the brink of another run so it is a good time to buy.  It is always more enjoyable to buy before the price rises.

[log2exp]

Once the World Cup is settled, people will pay more attention on their investments, hence I see a bull period coming soon.

[Bit_Happy]

I think it is a good time to buy.  

Husband and I have told a few people that very think the past couple of weeks and they actually listened and have thrown several thousand in.  It should get interesting from here I believe.

What is the reason for getting in at this point?

One friend I told about BTC last year and she just decided to buy now.

My husband was visiting his aunt in Vegas and mentioned Bitcoin and she wanted to know more and then decided quickly to invest several thousand.  

I think we are on the brink of another run so it is a good time to buy.  It is always more enjoyable to buy before the price rises.

Yes a Huge Rally is brewing and one reason will be a flood of mainstream interest.
Bitcoin is booming!  

[alexeft]

Well!!! It got off the trend line a little bit!!! 

[wachtwoord]

Once the World Cup is settled, people will pay more attention on their investments, hence I see a bull period coming soon.

The tour de France just started ...

[AdamSmith]

Trend is still intact for moon phase.