pragmaticbestfit
Short

Two descending channels and possible downside targets.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Even though there has been a breakout of the blue channel it still looks likely that the top of this channel is significant and there could soon be a clear break to the upside or downside. The down side targets I see on this chart would be around 6800 (support from yellow channel) or 64-6500 (support from blue channel and previous low around 6500). I am very interested to hear if people give the yellow channel any merit?
Comment: corrected/improved chart in the idea below. Think I was drawing the bottom grey line incorrectly above here.

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