Lebowski

Lebowski

Whatever noise is happening in day trading, the #bitcoin trend is up. As you can see, only a few red candles in these many years.

Lebowski

Updated to include the bottom candle markers.

Lebowski

As you can see, the downtrend line is still aiming, well, down. Possible 30% swing down to 72 still in the deck. Long term trend is up.

Lebowski

Next move up to 105, eventually landing at 72.

Lebowski

2 things can happen. Price moves down, or the bands get wider. Wider bands also make for a potential larger downward movement than currently.

Lebowski

The correction is not over.

Lebowski

These support lines must be retested before the next long term bull can begin.

Lebowski

The chart takes into account an average fee per ounce coin gold sold and a 20% vat purchase on silver. Long on both metals. The "Swap" is to increase your holdings over time. Dividend, so to speak. We are reaching a very high period, soon, especially if the chart dips down frantically will be the time for the swap.

Lebowski

We may have a long time to go, but, if this chart has any info on how this 2013 bubble will play out, we are still very good shape if people have patience to weather this out. In late 2014 or 2015 we may see the next super rise in bitcoin, if not sooner due to some media event. In 2015, natural market forces may be pushing BTC up too. Think dollar inflation...

Lebowski

If so, where does it go from here?

Lebowski

Where does this put BTC when this elliott finishes? Anyone have any other ideas?

Lebowski

After this winddown ending around mid-August, it's equally possible we will go down from there as it will be to go up.