BITFINEX:BTCUSD   Bitcoin / Dollar
3 months ago
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!
3 months ago
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Indian government's war on cash and potential bail-ins of Italian banks means that the trajectory used in this study is no longer valid.
These opinions shouldn't be considered as trading advice. Always conduct your own research before making a trade. And only invest what you can afford to lose. Only the whales know which way the waves will flow... and sometimes even they get it wrong!
3 months ago
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.

3 months ago
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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