Basically just a summary of some bearish thoughts for the next few days:
- Resistance at 530-550 is likely strong, see former price action. - A moderate 38-50% retracement after the recent rallye would be healthy. - Confirmation of the long term trendline is possible and desireable, but due to the overall bullishness price might not reach that line completely. Chart shows the maximum move, place bids well above that line to make sure you catch the train.
Comments
OlafMeyer
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Thanks. Little update of my prediction here: as the Silk Road coin auction was not known at the time I did that chart, I think it is now evident that the moon train to 700+ may be delayed until after that auction is over. Until then, all my price targets are off, good chance we might go sub 500 here, with all the 51% FUD, stamp/finex FUD, usual China FUD etc., 550 now at the time of writing this.
Diabolicus
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And so Clark Kent revealed his true identity ... thank you, Google ;-)