This Gann fan is hitting so many pivot price points (marked in blue rectangles) that it seems to be worth watching the coming weeks.
It makes forecasting easy. Either we stay above the 9/1 Gann fan which started in Summer 2013 and slowly start a new uptrend in Winter 2014 - or the price falls much much lower.
Obviously the Bitcoin price is currently in oversold territory - meaning the price can still sink a few US Dollar lower, but the price dive shouldn't be as dramatic anymore like it was from $683 to $442 or previously from $1163 to $339.
Using two Fibonacci Time Zones interestingly the Coppock curve might reach a low area where the second Fib Time Zone (which...
Obviously, Bitcoin's price is still inside a uptrend channel. Accumulation is increasing so far, too.
Please also take a look at my other related chart. I forgot to add it as link:
if you can see on the daily analysis, we can see there is 3 bullish pattern that will play at 84.60 or 78.48 not only that, we have a news that showing bad news for US so price going down, not only that we have broken trend line. so in my opinion price will continue lower at least to 84.60 before going up.. or could go more down to 78.48 :)
Huge risk that Bitcoin falls much lower than $450.
Here is the past value increase trading range and resulting future value decrease possibility in this Bitcoin price channel.
Look at the "related ideas" to find more bearish ideas in my previous charts, especially this one:
It’s been a happy couple of weeks in May, June and July 2014 for Bitcoin enthusiasts like me. Sadly we didn't break out of the overall downtrend since falling from around 1200 US Dollar per Bitcoin in December 2013 so far.
I was very enthusiastic in June 2014 that the yearly price increase pattern (bubble) repeats very soon. But 600 US Dollar is only the 50%...
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:
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).
Price in USD in...
Bitcoin can go both ways - bounce of $600 again or finally make a larger correction and go below $600 US Dollar. Thereby creating the sell pressure to dive down further before it then bounces of somewhere between $585 to $525.
Here are my thoughts how the bounce might look like, if Bitcoin makes a large pullback and bounces of $525 and then resumes the uptrend in...
we can see on hourly chart there is a bullish gartley pattern that will confirmed at around 101.118 then not only that, we have bearish bat pattern will confirmed at around 101.700 if we go to 4H chart, we can see the bearish cypher will confirmed if price hit around 102.06. if we go to daily timeframe, we can see the 26.18 trade the double bottom, the RSI...
