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 :)
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MarvinMartian
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In opposition to your thought. No rallies, unless huge news. And as I see it, the only news that will move the ticker the most is bad news. So, not even a news rally is left. Only way BTC pumps again, is something "nearly earthshattering in crypto" or an artificial pump. (If you look at the 1min charts, you can see the bots working their magic, all the time)
< historical price trends show nothing new/exciting coming.
Thanks, we will see if we are right within 20 days or so!
No12
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my own guess is a bit sooner.. but as long as 565 holds I am fine..
MarvinMartian
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I disagree... BTC price movements remind me a of a balloon, slowly losing its air.
No12
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You are missing all the good news.. UK begging to become centre of Bitcoin lately, OKCoin futures increasing liquidity and derivative instruments is what the big pockets waitng for desperately.. ok a NASDAQ listed ETF has much extra quality, but still...can happen anytime this year.. It is just the summer-lowtime.. which is almost over...