BTC (Weekly) - bump and run theory

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
7713 5
Stepping back from the shorter time frames, I wonder if this will play out????

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I was intrigued by your theory, now the first resistance was broken, but so far price remains unchanged. A couple of weeks from now we wil have much more info to see how likely above scenario is. I expect the green like that was just broken will become resistance now.
DanLaffas Asterix
Yep, that's what I'm thinking as well. Price may still climb to the original target zone but only time will tell.
Thanks for your feedback Asterix
I'm now inclined to think we've hit our peak for this correction and will continue back down to the historical growth base line. We didn't quite make the 50% retracement target of 744.94 so my end target is in the 260-280 region perhaps by around December 2014.

Check out my new chart from 15 July 2014.
So far, so good :)
DanLaffas Asterix
One more leg up to finish this overall move (5 wave) and then it should break down through the lead-in line. I'm aiming for a high of 750-790 before it rolls over.
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