Bitstamp Weekly Chart - Updated 15 July 2014

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
6227 4
This is an update to my previous 'Bump and Run' chart (link below). I've simply added the magenta upper and lower trend lines along with my new target area around 260-280. I've also relabelled the AB=CD movement.

I'm guessing that as our old support line has now been broken, it will become resistance and push price back down. We've been pretty much sideways in a $150 price range for the last seven weeks and I don't think the bulls can push this much higher.
Question is now - Do we bounce here off the long term trend line and then break through on the next attempt, or do we just plow on straight down.

Either way, I think overall we need to drop further towards 160-210 before we can call this bear trend over.
DanLaffas pseudomarcus
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out