timwest
Short

REPUBLISHING BTCUSD WEEKLY FORECAST FROM JULY 22 2014

BITSTAMP:BTCUSD   Bitcoin / Dollar
855 21 14
Here is the text of the forecast:
"July 22, 2014
Sell signal setting up ONLY IF
Bitcoin drops under 607.
Bitcoin failed to rally to the
upside target and therefore
implies some weakness in the
market. The stop is placed above
the previous weekly high at 633.
Tim"
(Time @ Mode Methodology)"

BTCUSD             was holding steady and not declining and wtih today's action seems to bring this forecast back to life. Downside targets are still outstanding. Stop losses can be placed at the high of this week around the $590 level after entries on the short side under $607.

Tim 10:51AM Wed, Aug 13, 2014
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I'm considering the idea of making a video to walk you through the "TIME AT A MODE" methodology to better explain this chart. Anyone want to see a 10-15 minute video by me on TIME AT MODE?
+7 Reply
Yes, please make a video when you have time. Still learning.
+1 Reply
I will be very interested. Looking forward to the video.
+1 Reply
ChartArt timwest
I'm highly interested.
+1 Reply
Yes please Tim - I too would very much value a video made by you. Best wishes, Nick
+1 Reply
I am also interested
Reply
so in your opinion we are still going to drop to 450 before the end of this week ? (say August 17)
Reply
timwest PRO BitcoinGuru
I was giving that target as a reference level. I would hold short for another week.
+1 Reply
I could also republish my old charts to make clear that I saw this coming :) And I fully agree with your $450 target. It makes no sense at all to stop half-way at $525 or $500. Somewhere around $450 is the last and only support - if we can't hold $450 then I see us slowly going down the next months to $85-$125.

My bearish forecasts:

11 days ago
The real reason Bitcoin is doomed in Summer 2014


27 days ago
3 Bitcoin short targets and a Buddha quote



You said sell below $607. I said sell below $610 :)

1 month ago
Bitcoin is facing a larger correction
+2 Reply
Hi Tim, how much time does bitcoin has to reach 450? I mean, I understand that similarly to your other prognosis, if this target will not be reached at predefined time, it will be a bullish signal? TIA
Reply
we just flash crashed to 451 on Bitfinex!! Had my buy at 565!! Now question is if in 1 week we will see a rally to the 600s or not
Reply
Asterix BitcoinGuru
I would guess not
Reply
Asterix Asterix
I mean, I will gues we will not rally
Reply
timwest PRO BitcoinGuru
The lowest weekly high was $452.67 on the week of May 11th, so that is the best target to look for in this decline. There is downside tendency for 7 weeks, and that is from 5 weeks ago. So, time is closer to out for the market to decline.
Reply
Muwa timwest
Target has been hit, at least on one major exchange (bitfinex).

snapshot
Reply
BTCUSD finally made it. The aggressive trade is to go long at 450. The stop can be pretty tight 430 perhaps.
+1 Reply
so u doubt we could see 340? were still in a very bearish territory right now.
Reply
timwest PRO BitcoinGuru
The low volatility area back in May should be a sign that massive fundamental buyers are lurking in that area around $450. So, I think it makes sense to trade against that level and go long. If $450 breaks and holds under $450 for 3 hours, then it is a sign that level is irrelevant and the market could head much, much, much lower.
+2 Reply
excellent thank you Tim
+1 Reply
timwest PRO BitcoinGuru
You are welcome. I'm working on an updated chart for BTCUSD right now.
+1 Reply
looking forward for it
Reply
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