Quote from: Fakhoury on August 09, 2015, 04:43:54 PM

Klee, you want to say that this is a head and shoulder pattern and $250 is A MUST, right ?

Must is a very strong word, especially in markets. But this is my prediction.
It is based on (MA+TPTB analysis) + PnF analysis + my 'wisdom' I have gained in this market since 2011.

About my wisdom, it is a bit complicated and difficult for me to describe in English. I will try to someday.

About PnF, it is an a posteriori method regarding price - it does not predict but it tells you the momentum/trend. Which is bearish atm. VERY bearish. Multiple bearish signs since the 315 top.

My P&F 'forecast' can be wrong and this turns out to be a shakeout. Technically it has small chances because:
1) Bullish trendline violated so technically it does not qualify as a shakeout (a reverse at 300)
2) It will have to reverse the bearish catapult formation (most strong signal in P&F)

BUT...It IS possible! Everything is. After all Bitcoin tends to always exagerate at TA and stretch things to the limits. So I don't think it is impossible. I just give it very small chances.
Also I don't think it is probable to go sideways for some months in the 240-270 area before we breakout.
We need a very serious reason for people to panic USE Bitcoin, like Greece^3.
Maybe the tsunami MA predicts will fuel Bitcoin instead of taking it down along with everything else, who knows?

Finally, about MA, he seems to be onto something, and TPTB is the only insane enough guy in here to actually make sense.