Both the and are suggesting move.
If this is the case then we could have several weeks of down trend towards 310-280 zone.
Many may fined this illogical. However, this anticipation is based on my view and all traders must do their own analysis. I have at times entertained various possible outcomes. Such anticipation is not always guaranteed to play out. However it should keep from being trapped on the wrong side of the developing trend.
The being proposed now is nothing new and was considered when we were bouncing of the 340 low (see chart ). It seems we still have essentially the same pattern but larger one.
For those who might object to me keep adjusting my views will note that overall expectation has not changed and that it is my prerogative to to do so with my charts.
If you wish to to gain understanding on what might be or what it signifies you can view some of my Youtube videos in which I have explained the concept along with other ideas. The last one explaining why retest of 340 low or new lower low could be found at link https://www.youtube.com/watch?v=IujHKFHbcb4
On the terms of those charts you linked as a reference:
1. The first one was actually fairly reliable as a long term prediction; in fact I would say it's a huge achievement to be anywhere near that accurate despite not hitting the exact targets. He also did post updates in the -comments- section of that chart with explanations
2. The second chart was wrong; but from what I interpret, he would have changed his mind on the movement afterwards.
3. This Is a chart of MtGox, It's fairly humorous that you even chose this one considering the circumstances.
1. target ~280 fail
2. target 291 fail
3. target 200 fail
4. target 321 fail
5. traget 274 and 1000 fail
6. target 100 fail
7. only chart working
8. target 1150 fail
9. target 1100-1150 fail
10. target ~300 fail
If someone trade bitcoin based on his charts, he'll lose all the bitcoins ))
so stop misleading other traders..
The worst we could see is 425. Maybe 500. But I think 550-600 is more realistic, because we are in a VERY strong uptrend. What we will see soon is a correction of the uptrend. If the correction is fast with good news coming in August it can change very quickly to a bull race.
The last one was put in the background as it failed the initial expectation. However, with more price data now it is beginning to look as serious possibility. It needs more confirmation. ie from here price to run up past 607-610 zone to 630 and fail then drop in 3 swings to validate this triangle with final low being formed in the area of 570. Should this happen then it could offer real opportunity to go long with manageable stop for retest of ATH in due course.
Check out my chart of 5 months ago for more details of triangle known in EW as 3-3-3-3-3 and Youtube video
Bitcoin In Triangle in Wave 4 Consolidation & its Significance 16th March 2014 https://www.youtube.com/watch?v=Nnpdt2YABY8
I will republish that chart later when we have more price data but for now you can prepare for it. Here is the chart snapshot
I understand those who did not like and probably still don't is due to their inherent bullish bias as they feel that would help them make profit. So if anyone suggest alternate view is despised. It is almost like alternate view is taking money out of their pockets. This is in addition to seeming misconception that such new technology if that is what it is only move in one direction and do not experience any significant set backs.
However, all forms of bubbles no matter when and about what assets, often do burst and result is that relatively long period when it decline and goes flat before a lasting base is formed from which a new bullish cycle can develop id the assets still has merits. Otherwise could disappear altogether.
Therefore, whilst we might have higher prices, my view is that this is still retracing the decline from Nov 2013 and final low is not in place and probably will not be in place for at least next couple of years. But saying that would likely revoke strong reaction from others. So I will let the time unfold and show how the price will develops.