BITSTAMP:BTCUSD Bitcoin / U.S. Dollar
Breakout can be expected any time now with initial target of 11 000 - 11 200, and then a slight bounce to create another lower high around 11800 - 1200. Then a larger correction to create another lower low with targets at 9000 - 8500
Comment: initial target of 11 000 hit and a possible bounce now back to the breakout point at approx 11 800, where we can expect a turn down again to test the current low of 9614 over time. However, a break above 12 061 will take out the lower high and we will need to change our short term bias to bullish.