A few ideas how the price could move the next weeks based on the potential bottom of $275 and the last peak of $454, as well as the interim bottom of $317.
green arrows = uptrend red arrows = downtrend blue arrows = sideways
P.S. If you like my charts, you can leave me a tip: 1PmAnb2htvHnCbwNAxkV7b8XvVQyQ7LQLg
Hey, we've escaped those nasty red arrows!
Or... are they trailing arrows?
ChartArt
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Good question. I think we escaped them, unless the red support line gets severely broken below.
kakola
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Where did the time intervals come from?
ChartArt
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I looked at a dozen of past pivot points of the past weeks and applied a Fibonacci time zone to each one. And where most of them occurred at around the same time I chose those. I never read a book or even a manual how to do it, so it's basically try and error since I never used Fibonacci time zones before.
kakola
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Very clever. Well tomorrow we will hit one of those intervals, let's see if this indecision is resolved...
ChartArt
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Those Fib Time Zones don't mean that there will be a sudden trend change the same day, only that it's close somewhere in the next next days.
ChartArt
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14:50 UTC
Thursday, November 27, 2014, week 48
Current price: $370
Sadly the market bought back too early, almost killing the uptrend because not everyone was on the same page. A slower more steady sideways accumulation growth would have been better for a long-term uptrend:
ChartArt
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03:20 UTC
Sunday, November 23, 2014
Current price: $357 (again!!!)
It could up or down, but I'm now more convinced that BTC goes down the upcoming days and therefore possibly invalidating my bullish hope tradingview.com/v/LdUAOKwO/
ChartArt
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19:23 UTC
Friday, November 21, 2014
Current price: $357 (again)
It's hard to say if this was the bottom or not. I need one more day to determine the trend
ChartArt
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14:00 UTC
Thursday, November 20, 2014
Current price: $357
Finally the new direction has become clear after days of choppy sideways movement:
Or... are they trailing arrows?