BTC-e Broke Year Long Downtrend

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
BTC-e numbers show we've broke the year long downtrend, almost exactly at the point my arrow and green squiggles suggested. Expect up and down sideways movement for the next 7-10 days as we continue to test the upper limits of this year long downtrend.

We can't consider a breakthrough until we've tested the level a few times and moved above it. . BTC-e daily high price is currently at the meeting point of the downward trend, so we may go down a bit right here for a day or a few, then we should re-test the same downtrend level (red dashed line).

Red dotted line shows our current upward momentum since Jan 12th or so, which is extremely positive. If this establishes a baseline for the new lows on the new uptrend, then we will see $282 low for May 1st and approximately a $300 low for Jul 1st which would show a 6.2% minimum increase in value within 60 days. These are lows, so the swings to the high values will likely hit 10-20%, if you can close at the top.

Buy Low, Sell High.. To Da Moon!
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out