Sorry to disappoint you bulls, but we broke out of the primary uptrend in bitcoin. I applied this A=B method to estimate a ball park (B) for the current downtrend + a possible bottom.
This is just my anticipation not a prediction! I only assume something like this might happen if we fail to break out of the downtrend around 300.
Check out the volume profile bellow aswell. It supports my bottom level.
yes, this has been my general take also. BTC will remain low all year, with another bubble coming perhaps in 2016 or even 2017 .... we are in it for the long haul ...
I fine tuned my time fibs quite a lot so I don't think they are off...maybe you didn't look at them close enough ? :)
A6
⋅
this is btce chart (sorry its pretty ugly and hand made :)) when 75 and 102 (only btce) lows make nice trendline for 165 low which we bounced weeks ago...
i count with 124$ (timwest too according his chart :D) as next low which would make nice bull div on RSI...and then 75 and under 50$ which maybe could be between july-sept...we will see
Xman
⋅
I don't know, I love the guy who is upstairs. Happy Valentine's Day!
HerSerenity
⋅
Agreed on this one Magnus, which is only marginally related to me having the same idea when the price was still $530
tradingview.com/v/CvcXGImk/
afbitcoins
⋅
Yes was disappointed to see that log trend line broken. I wonder if we'll see support on a lower parallel ?