Back To The Base of the Trend?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
So, I’ve had some lack of motivation for a while. Prepped this 7 days ago and then got caught up in something strange that made me feel like junk for two days. Well, I’m back and ready to see what the market has to offer. Today I am using my all-time favorite modified Schiff pitchforks . I always seem to come back to them since they seem to fit so well. This one I based upon the Mt. Gox Prehistoric data since it was the first exchange. Many times the tops of the subsequent bubbles hit somewhere on the pitchfork . The next one is a bit uncertain right now ($1400 anyone?) since it is just too early.
The doomsday scenario I have (red thin line) is a possibility since Bitcoin seems to be in the “I never want to go up” phase. I can’t rule it out since it is still well within reason. It also would still be within the bounds of a normal 1X1 trend, based on the Gann fan that is newer. Meaning the trend would still hold. There have been times in the past where we’ve pressed right up against the 1X1 upward trend. Maybe it is time to do so again. If so, 350 is a resistance point I’d be looking at.


Aroon – It seems like that there could be some better times ahead. It has been rather negative for some time. It might cross soon and lead to some higher prices.

Short Term Targets

464 within the next few hours, followed by another push back up to ~480.

If you want to check out my latest blog post it is about how Bitcoin is not a pyramid scheme.


I hope we just go back to $440-$450 to satisfy the bears. Bounce there. And create a double bottom by doing so, which will be the signal for the bulls to buy back and start a new rally back to $500.
+1 Reply
ItisCalvin ChartArt
I'm thinking a short squeeze is due for all the Bears. Maybe some will take profit, but in any case it is rough waters for any side.
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