Update: Target Hit Dead-On! | #BTCUSD #BTC #USD #Bitcoin

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
265 0

At the beginning of January, our system produced what appeared to be "lofty" targets at the time (price hovered around 890). However, our chart maintained the allure of a quiet bull grazing these flatland pastures with an eye on higher elevations. As of this 4-hour candle, the bulls have made good to as they climbed to our first 1028.75 target, where price retraced drastically from here as expected for this significant overhead resistance target.

Bullish outlook remains intact. Expect market consolidation before further ascension to next target levels.


David Alcindor | 4xQuad.com


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