My last chart also anticipated a pre-dump rally, but expected it to max out at the channel boundary around $430. But the constant pushes from Chinese exchanges have resulted in a slow, determined penetration of that channel top, and now has the 4H ichi cloud in its sights. That, combined with the very large asks on BTC-e had me believing we'd easily be dropping...
UPDATE: see additional charts below in the comments. also, we finally had a little pullback that momentarily breached the upward trendline, but the horizontal support of 457 held and bounced. UPDATE 4/19 11AM: **new high target $691** In my rush to get this sketched out yesterday before the rally started (and while most were calling for more bear), I had only...
We finally had a small pullback from 544, but not nearly enough retracement or consolidation to support a continuation of this trend much further. The perfect periodic divisions of these rallies is causing so much anticipation that the bulls keep tripping over each other to be first in line, causing an acceleration of the rally attempts. When a pattern becomes...
since our touch of the $340 zone, having broken a long-term support line at $380, all the western exchanges have been led by the nose by the chief bull, China (specifically OKcoin and Huobi) in a series of pumps that have brought us up 50% in value from $340. None of these steep rallies has pulled back more than to the 38% retrace before spiking up again. That is...