timwest
Long

Bitcoin/Dollar Weekly - Uptrend - 761 target in 6 weeks

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
728 2 11
My last post on May 8th, 2014 was at 443.39 last. The comments are on the chart. I have added the new projection for time and price and the duration of the advance.

The biggest and most important price is where BTCUSD             held for 11 weeks, and that 761 price also happens to be where the current trend projection targets.

Keep in mind these are just weekly charts. The methodology can be fine tuned for the daily time frame.

Tim 4:42PM EST Tuesday, May 27, 2014
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BTC doesn't need to confirm 761 to confirm uptrend. We are already in the beginning of a large uptrend.that will either show its strength in July or August.
Reply
For the methodology that I am labeling, that is how I determine the strength of the trend. So, from my perspective, it does need to reach 761. Just as my last two charts were very helpful to see that the downside targets were not reached, it showed the strength of the downtrend was not in place and gave credence to a strong uptrend.
+2 Reply
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