lythknight

Bitcoin Price Prediction August 2014 through March 2015

BITSTAMP:BTCUSD   Bitcoin / Dollar
7100 10 3
Chart predictions a Bitcoin price of $3000 between August 2014 and March of 2015. Read the full analysis here http://www.geekcipher.com/technology/bitcoin-price-prediction-august-2014-through-march-2015/
Too bad it's not going to happen this time, anyone having done further analysis of bubble timing and related important resistance levels will have noticed that.
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AndrewGrennan HerSerenity
It could happen
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HerSerenity AndrewGrennan
Since March there are more and more signs that it won't, the last rally just being another one:
The all-important 38.2% level and what breaking it means.
+1 Reply
lythknight HerSerenity
According to your graphs we are still on track to break your "38.2%" come August of this year right?
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HerSerenity lythknight
Wouldn't say so for several reasons:
- out of time: most people had expected a new ATH by now, not August or September
- followed by: long-term support line break
- trailing brick wall of resistance: looking back at every single bull effort since the last rally, you'll see double and triple tops everywhere. Same goes for corrections in the recent downtrend.
+1 Reply
MoonTrader HerSerenity
That doesn't necessarily rule it out. News can hold up the market, but if i doesn't kill it, then there's always potential for a rally. People had expected the downtrend after the China bubble to be broken much sooner, but it did eventually happen even though it took longer.
-1 Reply
HerSerenity MoonTrader
Given the downtrend break wasn't just a correction, but that's how it looks exactly as of now.
Also I have correct myself, we're not on track anymore as you can see from loading the new bars in the chart above.
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The problem is that we are not anymore in this trajectory from 2012 since July 2014. We were almost there, but not breaking 700 US Dollar means we are going down now. Maybe we go only back to $450. But we could also go down to $250. Everything is possible.
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$450-$465 sounds about right. If we did drop below that, I don't see us falling below $330-$340. There's just too much institutional pressure down there, and there's going to be even more by the time it would take to fall to that price.
+1 Reply
BitWave PRO ChartArt
It's like 2011~2012 , I think the price will stuck at daily 200 SMA
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