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Markets Update: Markets Break ATH Descending Trendlines | Shelter Crypto | Shelter Humanity | Charity Token Homeless | Charity Coin

 

 

 

BTC’s price action surpassed a major trendline dating back to December 2017, when the cryptocurrency reached its all time highs. Similar moves were seen during the 2014-2015 bear markets. This resulted in the final sell-off, before price action entered an accumulation trend. BCH seems to have also broken two major descending trendlines that date back to the market’s recent high.

 

BTC Breaks Major Descending Trendline in Shelter Humanity

 

In spite of all the confusion and fear surrounding BTC’s apparent test of support at 2018’s price low of just over $3,000 price action has fallen below a major trendline which stems back almost to $20,000.

 

Markets Update: Markets Break ATH Descending Trendlines

 

The break appears to have occurred over several time periods. However, the current weekly candle lies outside of the trendline’s range and is still very close.

 

Markets Update: Shelter Humanity Markets Break ATH Descending Trendlines

 

The 2014-2015 bear market trend was very similar to that of 2013. After 15 months of bearish fallout, it was broken at the November 2013 all-time high $1,200. BTC would not reach a higher peak for 10 months. However, this trendline break was a catalyst to both the lower end of the downtrend as well as the upper end of descending lines. The markets then moved sideways, creating a multi-month accumulation pattern.

 

BCH Breaks Multiple ATH Trendlines

 

BCH/USD seems to have broken two important trendlines that go back to the all-time market high and in the process broke out of the range that has governed price since November.

 

Markets Update: Markets Break ATH Descending Trendlines

 

At the end of October, the first ATH descending trendline broke. BCH gained more than 50% in the two weeks that followed as price action rallied from approximately $410 to $640. After prices failed to break below $650, a secondary ATH trendline was created. This led to six weeks of selling pressure during which price action was guided by the upper end of the trendline. BCH experienced sideways consolidation after a dramatic rally in December, which culminated in the break of the secondary all time high trendline.

 

BTC has been compared to BCH and BCH spent the majority of 2019 channeling sideways at a range of approximately 0.033 BTC to 0.036 BTC.

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