PW
Long

BTC Logarithmic Chart - Channel v02

PW  
MTGOX:BTCUSD   Bitcoin / U.S. Dollar
299 4 0
In my view BTC is going to $1000 before Christmas. The channel seems to suggest two outcomes:

(1) The current run may continue to $1000 before a correction

(2) Resistance at $500 - correction around this price level

BTC is heavily news driven and next weeks Senate hearings may be the deciding factor here. It may also serve to legitimize it in the eyes of the public (to some degree). Equally the US government may come out strongly against it.
PW
3 years ago
Again - chart came out wrong. Something going wrong with Tradingview.
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AWatchingA
3 years ago
Senate hearings almost certainly bullish for BTC in the short. Legitimacy, massive media attention, plenty of big name promoters and a explosive price chart. Greed will be extreme. $1000 seems reasonable, but I would expect a bigger pullback to scare the new small money, and let the big money buy up some cheaper coins.
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PW AWatchingA
3 years ago
Agreed. Thanks for your comment. BTW this is the chart has I had intended it -
snapshot
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Makeminea99.
3 years ago
You are talking about the wrong Continent. China is driving this, Senate hearings are by the by right now.
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