I found out three days ago that we are in the same situation as in the end of January, early February 2014 - just before falling down very deep for months. It's so very sad that I didn't publish a public chart here, because I love Bitcoin. But now that several people came out on TradingView with their doomsday scenarios I will contribute mine soon.
New target that seems realistic is $450. Maybe even $250 or $125 if it gets very bad.
It seems that we just delayed in May and June the downtrend from the all-time-high and it's still intact. I found signals for that weeks ago when creating monthly charts, but I always dismissed them that they can't be real.
Here are some old ideas from ronfkingswanson. Maybe we test the untested price zone next:
Thanks for those two, haven't stumbled upon them yet. Especially the second is interesting, but we'll most certainly see another full-flegded faster impulse wave before reversing, that's why I doubt it's going stop anywhere above 300.
Looking forward to your scenario btw, I'm gonna be disappointed if the candles won't be completely covered up by fibo circles!
HerSerenity
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I got supsicious when the last bubble ended at a double top because that's certainly not how I got to know Bitcoin, looking back at the last three big crashes. Assumption confirmed in March by the 3rd impulse wave.
Though I doubt anything can really change its natural course (Silkroad? $85?? Screw that, let's go for 1k instead!), and yes, including love :p
I for one am going to hop in at every pitchfan line in my chart; yesterday the first bump happened right there, leaving me a bit surprised as I didn't see any actual support lines -- well, until now.
ChartArt
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The last bubble rally went too high and happened way too fast. Maybe it's better if Bitcoin cools off for some time to start the next - even larger - rally from a lower price point. Hopefully without rolling over the overall uptrend which was established in 2011-2012.
BitcoinGuru
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good job and I agree on your Chart work ChartArt, I think were due for a crash down to the 300-400s.
Also if we go down to those levels I know few people who would buy in. They were waiting for the price to come down so they can invest :)
New target that seems realistic is $450. Maybe even $250 or $125 if it gets very bad.
tradingview.com/v/VV81N2v2/
tradingview.com/v/wMGLuqA9/