Next Bitcoin price support is at $192-$196

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Bitcoin / Dollar (BITSTAMP:BTCUSD)

BITSTAMP:BTCUSD Bitcoin / Dollar

fibonacci pivotpoints

How low can Bitcoin go? Answer: Very low. First resistance is at $192-$196.

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Considering how my $220's prediction played out, I agree with your lines. My personal ones are a bit more conservative (I favor some other market sentiment indicators) but my prices are relatively in the same spot.

This is based on nothing but support lines?

HenrikLolsor

This is based not on support lines, but on pivot prices. I used both long-term 'standard' pivot points and 'Fibonacci' pivot points. To learn more about pivot points read:

"Using Pivot Points For Predictions"
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:pivot_points
http://www.investopedia.com/articles/technical/04/041404.asp

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