Bitcoin long-term outlook 2015

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTC /USD is consolidating between $200 and $250 and the overall trend is strong if the long resistance of $256 (Fibonacci pivot for the year 2015) gets again a breakout above.

On the downside long-term support is around $192-$197. Prices below will drag Bitcoin much further down till $133, maybe even $65.

Weekly resistance is around $250 and a break above will extend gains this week up to $265.

Recommendation: Buy BTC , Monthly stop loss $208, Long-term target for the year 2016: $400.

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