Update: Stubbornly Bullish; Caution | #BTCUSD #BTC #Bitcoin

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
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Watch for fake-outs here. 989.27 was our former overhead resistance, which pushed back and held price down for sometime.

If structure-high at 980.59 cedes, then 989.7 offers a potential hurdles to bulls.

OVERALL: Structure-highs are as noted; Chart has not changed directional bias. Remains BULLISH throughout. A break below 884.75 will likely change the tune. Safe support offered at 895.32.


David Alcindor | 4xQuad.com
Predictive Analysis & Forecasting
David, it's great - I've noticed this hidden fib fan influence in most corrections and often find myself ghosting those lines for reference... always the same outcome and I'm 80% confident that we are leaving the area as you outlined in this post. This was a classic (and typical) BTC correction. If BTC stays true to form, we will return to this level (900 MtGox, 800 BTC-e) in a larger correction later on! :thumbsup:
i like the manual "implied" Fib fan... the way PA reveals the Fib fan's waning influence and change of directional bias from downwards to sideways then up, strengthens bullish case.
Hi, @venzen - Was looking back as some hidden trends having anything to do with forecasting, if any. I thought this manual fan was interesting, so decided to leave its ghosted line. David
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