I started playing with this chart since the fall from $300. Nice Double-Bottom at OTE I started buying again at $218. Could wick at $253 before a sideways/down move lasting til late May.
BTC could dip once more to test demand levels @ 1.44 ext. A sustained, summer-long bull-run (C) would be healthy.
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I'm sure similar charts have been posted. (Go ahead and link them - if that's possible) But unless BTC drops to $0.01USD I'm basing this on April/May 2014 move. Tax season will be over. With good news or no bad news; There should be some new money entering. There are still massive amounts of foreigners in my area alone that send money home on a weekly basis- have...
Weekly time-frame shows a bullish div. .618 re-trace lands at previous resistance. (around $1,500) This could be a decent mid- term target.
I'm waiting to see where this shakes out before I enter a major pos. Right now, I have a small short open.
We've run the yearly bottom trend line to this point. The arrows suggest a run to the overall top trend line from $1100. If the bottom trend breaks, I'm looking for a bounce-back from around $160's.
Price spiked down into the 1.27 A solid buying opportunity, especially at this price! I'm looking at 38.2 retrace as a selling target. Feedback would be appreciated.
We've been scraping the bottom for while. Support and resistance likes to stay between .618-1.618 fib ext. the heaviest resistance is $345. I'm interested to see if we trend up to the 1.618 with a wick hitting the 2.272.