The new support is at 427

BTCE:BTCUSD   Bitcoin / Dollar
111 0 3
The resistance at 427 is now support. Untill it holds I expect higher prices for wave 5. Next resistances are at 439 and 445 levels. Depending on the development around these resistances I will asses the posibility for much higher prices. If correct that wave 5 is unfolding it's difficult to forecast his size. It is used to be smaller then the third wave which is $70. The behavior of bitcoin shows some features of commodity markets and one of this features is that fifth wave can be longer then the third waves. That means that the minimum target for wave 5 is above 445 but it could rise to 500. All depends on investor's excitement.

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