BitcoinGuru
Long

300-315 The Vintange Point - Bull vs Bear Scenario

BITFINEX:BTCUSD   Bitcoin / Dollar
Due to popular demand, I am publishing an update on my earlier draft. Thanks to a flow of good news from Silbert in regards to ETF , Bitcoin was able to pierce through my yellow line and with sustainability for now. I am bull to 300-315 initially as we also have the auction on March 5th which I think we could dump on the news on March 5th. March 5th could be where we make our last stop at 300-315 (that;s why)

Yellow and red line Area (255-295) i would also add 315 to it:
Is a highly volatile-cautiously bullish area = Area of decisions for the bulls and bears.

(A) Current Bull Scenario:
1st Bull Target is: 300-315, I would take full profit in that area. This area is a vintage point for Bitcoin imo. The reason is that it was major support several times in the past (3 TIMES). So I expect a LOT of resistance at that area. We also are starting to slow down, maybe because we are running out of buyers and we need more "NEW MONEY" from new adopters of Bitcoin to come in the exchanges.

Passing 300-315 with good volume marks a confirmed market reversal in favor for the bulls towards 360-380 (March 12th) then later on after consolidation we could reach 440-480.

(B) Bearish Scenario:
If 300-315 fails to hold as support and succeeds in acting as a resistance then we will plunge/crash into 236-240 initially finding support there and bounce from it. Then we will head to test 215 or 168-180 area and rebound from there.

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