JimMakos

Bitcoin is soaring to $500 price mark. Will it meet resistance?

MTGOX:BTCUSD   Bitcoin / Dollar
276 0 0
Why Bitcoin             still looks like a bubble? Will Bitcoin             crash and what does a Bitcoin             crash actually mean? Finally, what's a fair value for Bitcoin             today?

Read more in my new blog post where I am discussing why I expect Bitcoin             to finally print a red candlestick at the $500 area:

http://www.tradinggraphs.com/2013/11/17/bitcoin-value-increase-500/#.UohlzPlkOak

Bitcoin             reached $260 during the Cyprus crisis. When that was resolved, Bitcoin             collapsed down to $50. But before it did, Bitcoin             managed to gain $250, ascending from $10, where it had been consolidating for 4 months during 2012. What if a similar movement completed nowadays?

Well, we are past the $300 mark. That could have been a likely resistance level , assuming bitcoin             gained $250 again, since the recent retracement ($50). Yet, Bitcoin             actually found support there:

https://plus.google.com/104941013638539474491/posts/awWfzdqwgKt

We are also past the 161.8% Fibonacci extension ($415 area) as noted in the chart.

How about a %100 extension since the recent high ($260)? That would mean that Bitcoin             is expected to slow down its climb at $510.

Will Bitcoin             shoot through to 261.8% or will it slow down at 200%?
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder 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