MTGOX:BTCUSD   Bitcoin / U.S. Dollar
393 1 1
Replicating the trend line that is drawn from the April high to last weeks high of 395 (shown in red) could indicate possible resistance at the 560 level. Interestingly a chartist from T.V who has spoken with big pocket investors said they had also spoke of this ~560 area. Lucano from MondoBitcoin also mentioned this 560 in one of his analysis videos.
http://www.youtube.com/user/MundoBitcoinVideos/videos

My speculation FWIW is that we could see a correction (maybe 25-28%) after which Bitcoin             price could really go parabolic and shoot up a possible ~140%-200% in days. This is from studying the percentage changes and similar patterns from the April run. Especially considering the large amount of buying pressure and limited amount of coins.

We could also have good news from the senate hearing on Bitcoin             and well...keep heading to the moon :)

Stay sharp traders!
Agreed there is a risk at this price range based on the technicals. Something bad from the Senate hearings could trigger a well needed correction. Did a similar chart based on log scale.
snapshot


But, I actually don't think that will happen.

Got be sharp though for sure.

Thanks for the chart.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out