Bitcoin is repeating the same pattern?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
First of all, sorry for my noob chart, This is my first chart, so bear with me.
from what I see from price action, the bitcoin             are forming the same pattern again. The red line shows the most probable outcome if it mimic the history and the yellow one is the one I think its going to happen. we are going to test 560 and if we cannot break it, it give advantage to bears to push back bitcoin             to 420 or worst case to 339. then price back to rise to 600ish in november or december.
Please comment
Great idea for your first chart. I had a similar idea yesterday that the pattern of May might repeat.
+1 Reply
thanks, now the price hits 524 and couldnt go through suggests the red line movement is more probable if it breaks 511. if not, im going to think we will see 560 and go with yellow line
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