Kind of Gartley Pattern forming up on the Weekly with a completion around 170.00 - 210.00 BTC/USD.
This Level also shows some broken Resistance Level from April 2013 which was never clearly tested on the Weekly Chart.
And as you can see by the two black lines, this also would set up and ABCD Pattern.
My Opinion is that we're currently in a midterm short trend in a Major Up-Trend. We could see lower Lows under the 275.00 BTC/USD Level. There maybe a spike down to my buying Zone :)!
But Keep in mind we could never reach this Level, we my break those blue dotted Trendlines to the upside quite soon, where i will whatch for Trendcontinuation Setups at the retest of this TL's.
Stops should be under the 50.00 Level but i think about 80-90 would be good for more agressive Traders.
First Targets around 350.00
Second around 700.00-750.00
And for the longterm Traders, 1150.00 would be Target 3! Or just let it run.
This Level also shows some broken Resistance Level from April 2013 which was never clearly tested on the Weekly Chart.
And as you can see by the two black lines, this also would set up and ABCD Pattern.
My Opinion is that we're currently in a midterm short trend in a Major Up-Trend. We could see lower Lows under the 275.00 BTC/USD Level. There maybe a spike down to my buying Zone :)!
But Keep in mind we could never reach this Level, we my break those blue dotted Trendlines to the upside quite soon, where i will whatch for Trendcontinuation Setups at the retest of this TL's.
Stops should be under the 50.00 Level but i think about 80-90 would be good for more agressive Traders.
First Targets around 350.00
Second around 700.00-750.00
And for the longterm Traders, 1150.00 would be Target 3! Or just let it run.
