Being near a major support fib line, we may be seeing a huge bullish month up to the heavy resistance trendline at 2300. I expect it to rally from a starting point at around the 780.00 mark, continuing up sharply with steady gains and minor retracements. It's just a theory, but stay cautious. Have fun and tread carefully! ;D
Comments
flibbr
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What made you decide to start the line at X ?
Mennzz
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Which point is X?
flibbr
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The initial point where you draw the line from.. and what makes you come up with 2,300 ?
Mennzz
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That point is a special fib point which has a big impact on price, and the 2300 comes from the important connections of the fib and trendline points and a general clone of the whole previous upmove to 1233. :D
ronfkingswanson
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and here I thought the failure of that weekly candle meant bearishness for a while? Or have you been looking at my crazy 2011 rally symmetry chart again?
Mennzz
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hehe well, it looks like BTC may have another chance on this divergence pattern, if it only actually takes place. But the weekly candle would have to close bearish again so we'll have to see. ;D