Soon to break 1 year resistance (or support)
Next weeks will be interesting.
We are approaching :
- the log trendline, resistance from ATH (red). (Check what happened last time we crossed it in my linked chart)
- 2 supports : first one being the 1year support (orange), second one an all-time support (green)
In the mean time we are hovering @383, the 23.6 fibonacci level (both recent and also 1-year retracement).
Lately, after the (possible) bottom @275 we do see new higher highs and higher lows.
Also speaking of fundamentals 2014 is a great year for bitcoin (considering VCs, merchants adoption, number of transactions...)
I expect a breakout from upside in the beginning of 2015, but being patient is a valuable asset :)
PS : I would encourage you to zoom-out the chart so you get the big picture and how I drew main trendlines.
We are approaching :
- the log trendline, resistance from ATH (red). (Check what happened last time we crossed it in my linked chart)
- 2 supports : first one being the 1year support (orange), second one an all-time support (green)
In the mean time we are hovering @383, the 23.6 fibonacci level (both recent and also 1-year retracement).
Lately, after the (possible) bottom @275 we do see new higher highs and higher lows.
Also speaking of fundamentals 2014 is a great year for bitcoin (considering VCs, merchants adoption, number of transactions...)
I expect a breakout from upside in the beginning of 2015, but being patient is a valuable asset :)
PS : I would encourage you to zoom-out the chart so you get the big picture and how I drew main trendlines.
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