Targeting $185,- Area at Month's End
The expected bull-run in my previous chart was unfortunately short-lived, forcing me back to bear (again..) on the 8th of December - the day of the giant bear flag. I'd to conclude that BTC requires more price consolidation before a new and longer bull period can start.
I'm expecting a 'throw-over' of the red trendline, followed by a quick recovery. In case the recovery lacks strength, I'd be retargeting to the $130 area (resistance before Q4 2013 rally), I consider this however to be a lower probability scenario.
The 180s target is set on two converging trendlines and also making a ~50% cut from the 8th December. Would make a nice final bottom from my perspective.
I'm expecting a 'throw-over' of the red trendline, followed by a quick recovery. In case the recovery lacks strength, I'd be retargeting to the $130 area (resistance before Q4 2013 rally), I consider this however to be a lower probability scenario.
The 180s target is set on two converging trendlines and also making a ~50% cut from the 8th December. Would make a nice final bottom from my perspective.
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