Bullish Reversal Scenario for Bitcoin to 280 then 300 Initially

BITFINEX:BTCUSD   Bitcoin / Dollar
Annotations are on the chart. I used TIMWEST's Timenode method mixed with my ideas to build how Bitcoin will rally in a "healthy" manner to $300 initially then 360-400 later on. Since my last chart I have been accurate enough, will see how this plays-out.

As I explained to some in our IRC channel, it seems market makers are not looking to make BTC go parabolic as of now, rather it seems they are looking for a healthy uptrend. It can be observed on Bitfinex where bids and asks have been rather gentle in the past few weeks. Past resistances have flipped to support thanks to their help.

They have completed their shake-out down to 166, and got rid of the weak hands, but all this was necessary to start a new Bullish Cycle. Too bad some of us missed the accumulation phase between 215-230.

On that note: Seeing the Bullish yet misleading CNN article published today on Greeks rushing on buying Bitcoin , I believe we will see new money coming in into Bitcoin , we should see the effect of that new money on exchanges within the next days to few weeks.

Donations: 1Kbfudifg5n9DtpYymcL3E8pE2oX4Vq7CG
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Jay Snippit
2 years ago
great charting. as always spot on.
BuyBitcoin.WS Jay Snippit
2 years ago
thank you sir!
2 years ago
updated chart:

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