ChartArt

This could be the end of Bitcoin's 2014 downtrend! Part II

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
After months of decline Bitcoin             has found a bottom at $275 and is trying to move back into the uptrend area at $400 since taking the plane (https://www.tradingview.com/v/WUC4JjYo/) and after testing the bottom at $315 (https://www.tradingview.com/v/skfrVrQ2). Here is some guidance of where the price is moving in a larger scale right now on a daily chart . Next resistance is $403 and $418. Strong support is at around $338-$339.

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14:30 UTC
Thursday, November 27, 2014, week 48
Current price: $372

Bitcoin could be in a new uptrend channel compared to my initial Gann fan:

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19:39 UTC
Friday, November 21, 2014
Current price: $356

It doesn't look good. The price is outside both the old white Gann fan and also out of the new colorful Gann fan using the newer $453 peak price

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14:00 UTC
Thursday, November 20, 2014
Current price: $357

Finally the new direction has become clear after days of choppy sideways movement. BTC is now clearly below the 3 month pivot price again and also below the 8/1 Gann fan line:

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ChartArt ChartArt
When you add a second Gann fan using the 453 peak it looks like this:

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11:46 UTC
Tuesday, November 18, 2014
Current price $375

Below the important three month pivot (yellow). And the previously mentioned potential breakout to resume the uptrend was hit by a flash-crash after the news was released that the US marshals are going to auction 50K BTC very soon.

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HdahTomas ChartArt
thanks for the update
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01:48 UTC
Monday, November 17, 2014

It seems we have a breakout (not visible on this chart) and will resume the uptrend

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15:05 UTC
Sunday, November 16, 2014
Current price: $383

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01:18 UTC
Saturday, November 15, 2014

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-- Update -- 5 hours later -- extreme bullish run breaking the $400 barrier:

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