Two scenarios to choose from - straight forward:
Scenario A - Bullish: 3 stairs down then we turn bullish similar to April 2014. This will peak at around 480-512
But since I do not always believe in patterns repeating themselves, else trading would be so much easier for everyone and everyone will be rich. Then Scenario B comes into play.
Scenario B - Bearish:...
Oil End of 2014 Forecast based on the uptrend which started in 2009 after the 2008 sell off.
Anyone trading the S&P500 during late 2007 and 2008 should remember the effects it had - spikes - when oil news was announced... and the huge meltdown for transports... on the monthly chart we can see this period easily and make the MTAutoFib plot the high to low in a...
Using Wheel on other application to analysis date, turning point might happen around Jul to Nov, enter in the yellow spot, and aim for 2015 Feb @ 4.61. ideal enter at 3.5, exit at 4.5 - 4.6.
Based on the last 3-4 Bitcoin price spikes, the next one is coming very soon, around August/September of 2014.
The price also appears that it will reach above $5,000 with the next spike, possibly as high as $6,500. After that it will sharply decline in correction as historically has always happened after each spikes. But it will settle to a new high, possible...
Based on the last 3-4 Bitcoin price spikes, the next one is coming very soon, around August/September of 2014.
Note: For some reason the top of the purple parallel lines is way too high. It should be touching the top of each spike. I am new to tradingview graph tools and I couldn't seem to make it remember my setting for some reason. The bottom of the purple box...
Seems we built strong support at 620-630. We have spent enough time their that we are now able to continue the up trend. However before we resume our rally towards 750 we will most likely be within the 665-630 range until July 24th.
Not a lot of volume the past few days leaves Bitcoin in a CONGESTION phase until June 27 to June 30 just fluctuating without any clear direction. TA cannot be very helpful in such a immature market but a forecast can still be done.
The congestion range is mainly between 582 to 621.
My opinion is:
(1) technically the chances of seeing 550 is unfortunately...
