BITFINEX:BTCUSD   Bitcoin / Dollar
Current indications are showing a potential pullback to ~$600 which conforms to a long-term support line that has been in existence for at least the past year. After this point we could see BTC making moves to a level above 2016's highs.

I will update as and when new info becomes apparent.

Feedback much appreciated. Thanks!
Order cancelled: Sudden jump in BTC price possibly due to a number of factors such as Chinese Yuan devaluation, Bitcoin being mentioned in officially sanctioned Chinese newspaper, Indian government's war on cash and potential bail-ins of Italian banks means that the trajectory used in this study is no longer valid.
The support line of the bearish flag has now become a resistance line (broken purple line on attached chart).

Pullback so far has not been as rapid as was expected from the bear flag. However, the support / resistance lines of the bear flag remain confirmed.

Outlook still conforms to a bearish prediction with an initial target of $700 with a small opportunity of a final climb to $725 before the pullback to $700.

Target of $700 reached (only 3 days later than initial projections).

It's likely now that BTC price will levitate between $680 - $700 prior to working its way down to ~$660.

I will update as new info comes through.

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