12/19/2014 - Possible LONG in this micro bull trend

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
206 5
Watching the fib levels closely, you can see a distinct pattern of supports at key fib levels, and also following the resistance line perfectly. Looking to short around 322-324, if that does happen to break though, then I could see 335-340. Overall, still well within the long term bear trend with an outlook below 300, bouncing off 275-287
the price broke above your resistance = uptrend?
sammantic ChartArt
Chart you don't think the bottom is in yet do you? Looks to me like a bounce before testing below 300 into the mid2s. Need real capitulation and panic selling before a true bottom forms
ChartArt sammantic
On Bitstamp $304.99 could act as the new true bottom because that already felt like capitulation and panic selling, but greedy China might bring us down one more leg or at least we are going to have a test of $304.99 / $307.11 to see if it's the true bottom. My guess is as good as your's, but we already have a 80% chance that $304.99 is the true bottom.
sammantic ChartArt
You really think that felt like capitulation and panic selling? I hardly think so. In order to get it they are going to have run this down....put the fear in peoples hearts
ChartArt sammantic
We are back in the Gann fan and we bounced of a Fibonacci retracement which I drew (light grey colored line at $307):

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