Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Did you guys notice?
We are (again), at the trendline started at the breakout in january 2013, tested when the silk road closed. Again touched when Mt.Gox went down and recently when the TSR coins were sold.
I personally think we will break out this small triangle (and above the fibonacci retracement at 654 USD) in the next few days:
We are (again), at the trendline started at the breakout in january 2013, tested when the silk road closed. Again touched when Mt.Gox went down and recently when the TSR coins were sold.
I personally think we will break out this small triangle (and above the fibonacci retracement at 654 USD) in the next few days:
I think these log trendlines are guaranteed to be broken at some point in the near future (1 week to 1 year). A new trendline will be established. This happens all the time on a micro scale.
To maintain that trendline, basically btc would have to have a bubble of epic proportions (money influx-wise) and then only have a protracted bear retracement afterwards. I just don't think the log line is sustainable much longer.
+1 My thoughts exactly.