LeMogwai
Long

Short term downtrend is over, expecting 540-560.

BITSTAMP:BTCUSD   Bitcoin / Dollar
2148 10 7
As you can the daily have clearly some room to go up, we get down without any major retrace. 540-560 is a legitimate target if can break above 515-520 (A). From there (B) we can retest the midterm downtrend trendline , break above will push to the high 500s maybe to retest 600 (C), if we fail to break above 600 we can expect then to get to bottom of the pennant in the low 500s (D).
If (A) or (B) fail to break up, i m expecting a retest of the 460s area (E)
Started From The Bottom Now We Here:

snapshot
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in your opinion do u think we will hit 540 and take a break falling down 15-20$ then after that break past it and head to $560? I am considering shorting at both resistance
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LeMogwai BitcoinGuru
Yup, that's the plan. But it still can rocket to 580-600 area without taking serious break/retrace so be careful about your shorts
+1 Reply
seems (A) or (B) failed to break up, expecting a retest of the 460s area (E)!!!
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LeMogwai BitcoinGuru
too soon to conclude anything yet
+1 Reply
Your forecast was brilliant. Sadly we only reached target area "A" and are now on the move to hit your target "E".
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LeMogwai ChartArt
Thx. I still wonder what will happens once we get there, maybe some sideway before more down. Seems like only some bullish news can reverse the bear trend now.
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imo we can touch 556$ now
looks like a pattern
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cezarone cezarone
stop 452
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good call! just hit target area E. i wonder where we'll go from here... you think it will bounce off the green line?
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