ronfkingswanson

EXPECTING ANOTHER CORRECTIVE TOUCH OF LONG-TERM EMA

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
1285 5 11
***UPDATE*** it check out the chart I posted in the comments
snapshot
we've now gone all the way to touch the 500EMA - something that hasn't happened in exactly two years!
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Looking back to the April             2013             rally, we saw the first deep pullback reaching to touch the 100 EMA line, then over months as the bubble corrected more slowly, a final touch of the 300 EMA line signaling the end of the bubble period and a new trend. November saw a similar touch of the 100 EMA at the deepest pullback -- even mirroring the behavior of the first candle fully piercing the line, and the second daily candle touching it precisely.

These parallels would suggest a corrective touch of the 300 EMA is expected, as if the price wants to "touch base" before moving on to a new consolidation period or even rally.
500EMA touch. STRONG signal of trend reversal!
snapshot
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Because it has been working perfectly, Flibber. :)
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cant believe u got 3 likes and follows on this and triple the views if mine... you should put me in the credits 4 this chart ;)
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(sigh) thank you, flibbr...
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flibbr PRO ronfkingswanson
... and... no bounce !
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