Big movement ahead! + - 1. August 2014

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
3204 8
At the end of the Volumetrendline we will see a big movement in either direction. (01.August)

The direction will be defined at this point for the next 4-6 month.

Now we have two possibilitys.
1) Three drive pattern is already done, good news overall (point X second drive?) liftoff at the end of the triangle 1000$ (i would preferr that way)

If the three drive pattern isnt complete so far, china will ban bitcoin (or similar) at the end of july to get the price to the downsite target 265$.

Targets: 1000$ | 265$

Silas is a god.

0.236 from top is 270$ ;)

I published a similar idea (but you called it first )
doTheBounce doTheBounce
Updated View with Volumeindicatorline
I agree with your analysis. We are in a very pivotal situation right now in terms of where the price moves the next weeks and months. The longer we stay above $625 the higher the chance that a new uptrend establishes. But if we fall below $600 then we might see a month long correction downwards.
Why rule out it bouncing off the red line?
xSilas BitcoinErrorLog
im thinking of a three drive, and it normally have to make a new low (265 white trendline) to be legit, thats why i think the red line wont last for long. But it could be a good spot to watch for a 50 dollar bounce :)
xSilas BitcoinErrorLog
good that we talked about the red line :) +1
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