ChartArt

Bitcoin Price Trend - A Macro Outlook For Summer-Winter 2015

BITSTAMP:BTCUSD   Bitcoin / Dollar
1696 9 17
After several weeks with a very strong uptrend the BTC             price has hit an important area where the direction for the next months is going to be decided.

Breaking above $300 would signal that the uptrend is here to stay and that $400 is in reach. Falling below $250 might mean that the downtrend resumes one last time until $200 is confirmed as bottom.
A longer term trend:

snapshot
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ChartArt ChartArt
The medium term trend:

snapshot
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ChartArt ChartArt
Bitcoin is far outside the longest trend direction using BTC China data since 2012

snapshot
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nimbus ChartArt
How did you draw this tunnel?
I see no important price point of this tunnel's upside resistant ceiling and downside support bottom line.
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bbrox nimbus
Agree the tunnel looks pretty random.
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bbrox bbrox
except the midterm downward tunnel.
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Bravo for your analysis.
It seems the validity of the recent cup with handle pattern is vanishing. And which side do you think the market will choose, break upward or stay low.
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ChartArt nimbus
Too early to tell, but most likely dripping lower, if there is not a strong bounce this Friday.
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nimbus ChartArt
it seems a double bottom handle is forming. waiting for the break.
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