As I promised here is my description.
While everyone is complaining about the broken trend line, I still see a potential growth. The red trend line is broken but in my opinion it don't have to be a bad signal if the past repeats. The bubble in the beginning of 2013 follows almost the same patter as the bubble from October of 2013. In September of 2013 the red trend line was (also) broken very bad. The good news is that it was just a few weeks before the start of a big rally. Lots of things of these patterns are in common. If we assume that the future will repeat, there could be a big change that Bitcoin is about tot start a big rally in August.
All the good news so far hasn't had any effect on the price. There has to be a lot of good news in order to bring the price to a new ATH. In my opinion there is no need to worry if Bitcoin stays above 550. I think it's just a moment of time before the price breaks above 638.
Have a nice day guys!
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Edit*
I'm sorry I just saw that the colors of the right fib are upside down!
Hope this won't confuse you!
I'm such a beginner, don't be upset please :)
While everyone is complaining about the broken trend line, I still see a potential growth. The red trend line is broken but in my opinion it don't have to be a bad signal if the past repeats. The bubble in the beginning of 2013 follows almost the same patter as the bubble from October of 2013. In September of 2013 the red trend line was (also) broken very bad. The good news is that it was just a few weeks before the start of a big rally. Lots of things of these patterns are in common. If we assume that the future will repeat, there could be a big change that Bitcoin is about tot start a big rally in August.
All the good news so far hasn't had any effect on the price. There has to be a lot of good news in order to bring the price to a new ATH. In my opinion there is no need to worry if Bitcoin stays above 550. I think it's just a moment of time before the price breaks above 638.
Have a nice day guys!
------------------------------------------------
Edit*
I'm sorry I just saw that the colors of the right fib are upside down!
Hope this won't confuse you!
I'm such a beginner, don't be upset please :)
