Seeing is believing. The Fibonacci circle clearly shows that we are at a new pivot point in July 2014. We are entering a new phase. It's the second chart that shows this. Here is another one: tradingview.com/v/bw7KPtML
The next direction depends on if Bitcoin can stay above the 200 day moving average (new uptrend) or if we fall below this critical area (downtrend).
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