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Ni6HTH4wK
May 21, 2014 4:53 PM

The hidden bear 

Bitcoin / U.S. dollarBitstamp

Description

TLDR: After we touch T4, I believe we may be entering in a minor bear that will last up until early June. If we continue on to $548 (last top) then we will be in uncharted Bull territory with only fibs to guide the way.

YAY! So we crashed through the bear triangle... NEVER to return again. =) But, these waves give me some pause... if we go too fast then we'll end up going bear again. Three touches of our current up-trendline and then we go right through it, which way we go is dependent on the news and how everyone feels.

On this chart I call the resistance lines, Tier 1, 2, 3 & 4. Tier 1 was our strongest and held forever. Tier 2 was a top killer king and didn't let anything slide by it for long. Tier 3 is not really a resistance line because it only has a few touches, but it held up the early February stagnation. Tier 4 is pretty weak but it's our double top ~950. It's our second to last line so I'm not sure how we'll react to it. Since we have already broken the other resistance lines in such a small period, I'm guessing we can just pass right through it with no problem. Our last resistance line is our double top 1K which hasn't shown up yet.

During our ascent to the moon, there will also be other resistance lines drawn from minor tops that will hold for a while, or maybe even a quick retrace... but overall we should be clear if everyone can just remember to HODL!!
Comments
Fahrenheit
You nailed this one! I'm following your work closely, good job.
Ni6HTH4wK
Thanks!
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