ongame07
Long

Bitcoin, obvious pattern (weekly), prediction for next 6 months

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
There is a very obvious pattern which has been marked by green, red trend line and 1,2,3,4 numbers. On weekly price chart (has less noise) is much easier to spot it. Please take zoom and have a better view for compare. The new up trend might appear even in late december. By that time there might be horizontal trend. We have 160 days to test whatever the blue long term trend line will still work.

Comments

Why not take volume analysis into consideration? There is clearly a pattern of declining volume. Unless there is break out volume on the weekly chart similar to October, I would not considering bubble projections.
+1 Reply
Volume is a changing thing with bitcoin, with newer exchanges and volume being spread out... etc
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Muwa flibbr
This volume pattern is pretty much the same on all bitcoin exchanges. And I don't think BTC-e has lost many customers to Bitfinex, unlike bitstamp. So, if you take BTC-e's volume pattern as a general guideline for bitcoin interest you can still gauge when a bubble is about to form as it did January-March 2013 and October 2013.
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