Here I have layered two gann squares that illustrate the current curving trends of the BTC price, one large and one small, both nearing a break into their 4th ring.
On top of that, two fans which nicely encapulate the bullish and bearish trends. Bear starting in November, Bull starting at this recent low in December. The Bullish fan also coincides with the long term support trend line, drawn from early 2013.
Ending the year in this setup I cannot help but feel supremely confident in BTC during this next, week, month, and year. Of course, all bets are off if we close a day below that long term support trend line.
We are continuing along the red fan zone, staying well above the red long term support zone. We have retested the yellow fan line's resistance four times and have found support at the bottom of the Gann square once again, at least for the moment. The market is definitely remaining indecisive at this point, be prepared for a bullish breakout soon, but be on guard for a bearish downturn which could shatter any hope for a rally.
SpielMeister
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Looks like we got caught below the yellow fan line, giving the bears a small rally. We are about to break through the 4th arc of the major square and into the 4th arc of the minor square. This combined with the fact that we are retesting that yellow fan line still gives me pause about a continuing bear trend. If a bull trend begins in the 5th arc of both squares the gains could be significantly larger.
We have yet to break through the major support line, or even test it for that matter. But if we begin to head that direction it is probably a bearish signal.