This is an exciting time for Bitcoin. over the past few months we have broken below multiple long-term uptrend lines and now the final one, the one that has never been broken in the history of bitcoin is in our sights.
We had a nice bounce off of 304 up to 338 which was a perfect 0.618 retracement.
In the entire history of bitcoin the price always bounced off of a trend line before a new rally begins. The trend line below us is the final one which if broken will break the logarithmic uptrend that we have enjoyed over all these years.
I'm expecting the price to touch 284 which coincides with a 1.618 Fib. This should make a nice short trade before we move upwards commencing a nice rally for the beginning of 2015
Merry Christmas and a Happy New year :-)
PS: Sorry that the labels are a little squashed together, I made this chart on an ultrawide monitor I just bought didnt realise that it looks bad on laptops!