Technician
Short

Bitcoin Forecast: The One and Only Forecast - UPDATE

BITSTAMP:BTCUSD   Bitcoin / Dollar
1878 5 23
In my earlier forecast for bitcoin/usd 11-month ago (https://www.tradingview.com/v/97hCiiAX/), i was looking for a major bearish break , forecasting price to bit areas near 50. Well, fortunately, the down break started and we headed lower recording a low at $150 (around 73.5% decline from the price of earlier post 565), which is a good accomplishment right? however, the price didn't reach my projected level yet!

Hold on, I still insist :) .. The price has broken key long term support levels and trend lines as shown on chart, i think its a matter of time until we get there..

I would love to read your opinion, feel free to comment agree or disagree in a respectful manner..
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2013 April top was stronger than we expected. Still no reason why we won't see $130 in the following years.
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This is going to moon! Any update @Technican?
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I have read your prior analysis and discussion, lots of attacks , nevertheless you were right! at least until now! Don't really know where are all those attackers now ;) haha
+1 Reply
I think these are solid targets. 45 & 85 (if you count a triangle) are the bottoms of the previous 4th wave of one lesser degree which is where corrections "tend to register their maximum retracement" "most commonly near the level of its terminus." (EWP p. 66)
The Historic Rise of Bitcoin

Also should note, based on the Mt. Gox chart 111 is a strong support line. 3 of the last 6 days price bounced or held at this level.
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I don't want you to be right again
+2 Reply
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