rv
Long

Bitcoin/USD. Potential Bounce.

rv  
BITSTAMP:BTCUSD   Bitcoin / Dollar
470 0 5
RSI is reaching a 4 month brake_out momentum , above 30. (at 30.57)
Price has reached 2.618 extension, within 1/6/2014 descending parallel Channel.
Several rejections on 300 price level, resembling the 445 rebound.

Clearing the downtrend_line and 76.4% retracement, rising above 11/4 340 double bottom, on a daily basis,
could give some short term confirmation.

( Targets in descending probability )
Target_1 : 365
Target_2 : 380
Target_3 : 420 ( 38.2%, 50 sma )

Braking the Blue descending channel, price could seek the 500 level. ( 61.8% and 200 sma )
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