We are approaching the end of the flag pattern (created by price increase at the end of May through mid Jun and the correction/bottom in early August).
We are currently trending above the 9 MA and 200 MA.
The next level of resistance I see is ~$614. If we break that resistance level I believe the price will jump to ~$623 (or the .382 Fib resistance level). ...
After the bitfinex hack, the price of bitcoin plummeted to prior support levels around $536. Once we break $596 (the 50% retracement level) our next level to hit is $610..... Once i see the 50% level break I will go long around $597-$598 with the intent to get out around $610 or higher....I trade using leverage, hopefully the move is quick.....
I haven't placed a trade in a couple weeks now.... I want to get a fresh perspective on where we are and where we might be heading using simple chart analysis with fibonacci retracements. From our recent high to our recent low, we are currently sitting slightly above the 50% retracement level.
Looking at the next levels, I see resistance @ ~$686 (.618...
We are in the low end of this range - I expect to see bitcoin recover from here onward. too many bullish signals but the biggest being the mining reward halving in July, Let me know what you think? Thanks AP.
what are you thoughts on king dollar vs. the following bad outlooks for canada (low oil prices and no longer holding gold reserves) I am new to this and would like to understand your logic. Thanks AP.
