Seeing is believing. The Fibonacci circle clearly shows that we are at a new pivot point in July 2014. We are entering a new phase. It's the second chart that shows this. Here is another one:
The next direction depends on if Bitcoin can stay above the 200 day moving average (new uptrend) or if we fall below this critical area (downtrend).
Price in USD in...
Bitcoin can go both ways - crash below $600 or finally make a breakout and go above $700 US Dollar.
Here are my thoughts how a breakout might look like, if Bitcoin bounces of $600 and then resumes the uptrend in October, November (Q4 2014).
Bitcoin can go both ways - bounce of $600 again or finally make a larger correction and go below $600 US Dollar. Thereby creating the sell pressure to dive down further before it then bounces of somewhere between $585 to $525.
Here are my thoughts how the bounce might look like, if Bitcoin makes a large pullback and bounces of $525 and then resumes the uptrend in...
we can see on hourly chart there is a bullish gartley pattern that will confirmed at around 101.118 then not only that, we have bearish bat pattern will confirmed at around 101.700 if we go to 4H chart, we can see the bearish cypher will confirmed if price hit around 102.06. if we go to daily timeframe, we can see the 26.18 trade the double bottom, the RSI...
This isn't a forecast, it's more of a study I will be able to refer back to in the future. It's a combination of golden ratio spirals, fibonacci retracements and multiple pitchfans on a Bitcoin chart from Winter 2013 until the Summer of the year 2015.
USDJPY Outlook : From what i see in the chart, we see pattern on daily,4h. if we see on 1H chart, we can see here almost go for a retrace. so i suggest go long entry around 101.503 and take my profit around 102.500. then will go down.. and if we see in the 1D chart, we see pattern too.. so in my op , price will go around 102.500 then go down maybe around 0.382/0.5...
