MRS Watanabe
Long

272 resistance blown away in other Currency

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
649 3 4
The target resist is the Median line arrowed. Slightly above the all time high $266
So am expecting the all time high to be taken out and perhaps we might see some resistance at the ML see April 16th arrow. But looking at the same Pitch Fork on other currencies like AUD we have blasted past the ML, it offered no resistance. Coming to think about this I am not selling till I get a sell signal from the daily Ichimoku chart. Besides there is no incentive to sell BTC which are of limited issue, in exchange for any other currency that has illimited issuance, this could go much higher than anyone can imagine. Here is a calculator for fun. $10,000 or $50,000 why not? http://techcrunch.com/2013/06/02/calculating-the-long-term-value-of-a-bitcoin/
techanalysis2151
3 years ago
"Besides there is no incentive to sell BTC which are of limited issue, in exchange for any other currency that has illimited issuance, this could go much higher than anyone can imagine."

Well put....I think this is just a fundamental fact of BTC that can't yet be quantified in a chart. I just feel like its all unknown territory for now.
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MRS Watanabe
3 years ago
As predicted the resistance at the ML on the blue fork and the all time high horizontal resist would not last, because the other currencies like AUD showed there was no resistance there, It would be nice to see it return to test the ML of the blue fork and find support on it. I think the angle of the fork is correct and is capturing supt and resist. So the next target resistance is the Upper Line circled at this link,
snapshot
still am keeping an eye on Ichimoku it tends to be good at capturing the largest part of the move once trend direction gets going.
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