Slot

Bitcoin Crossroads, how will June start?

BITSTAMP:BTCUSD   Bitcoin / Dollar
147 2 1
Although primary oscillators reflect an overbought status, there still might be more juice for another run up towards the $700 area. For the market to remain 'healthy', a retracement back to the $500s is something worth considering. Perhaps a 50% fibonacci nicely bouncing off the long-term bullish trendline?

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Slot
2 years ago
The graph above is loosely drawn, to reflect my personal expected direction. Also, how the fibonacci retracements are being shown is rather uncommon as well, as they're normally drawn from the point where the way up or down starts (in this case a runup from ~$420) - but I noticed these levels correlated beautifully so far with previous levels where the price came to a halt (520, 570, 623).

If it plays out, a 38.2 retracement is more likely than a 50% retracement as described in the previous note.
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Slot
2 years ago
Unfortunately I'd my sell orders at $699,- and missed this ride. But this forecast was remarkably accurate even though I say so myself.
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