emice
Short

Bouncing down along different pitchfork channels - revised

BITFINEX:BTCUSD   Bitcoin / Dollar
52 0 1
Revision of previous Bitstamp chart but using BitFinex and cleaner presentation.

Price could swing up to $450 range along the short term pitchfork one more time, before heading down to ~$415. Potential bounce past the middle of the longer trend pitchfork channel, which is right below the 50% ($444) fib for the rise from $340 to $548. From there down to somewhere between the top and middle of the longest term pitchfork channel, which at ~$350-$390 has potential bounces at the 88.6% ($364) and 76.4% ($388.86) fib.
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