Dear Traders, Investors, Speculators,
This is to share a bitcoin chart analysis.
After the big bitcoin price rally that we predicted (click here to see the string of historical forecasts), Bitcoin prices have risen from 13.5 $ at the beginning of the year to 49.099 $ at the high on March 6, 2013. This was more than a whopping +300% increase.
Since then, bitcoin charts show that there were two sharp spikes down, right into channel support.
All bitcoin traders and investors are now asking: What is next?
Well, it can be quite simple: We either rally above the two green lines. A material break of the 48- 50 $ resistance would open up at least another +10 $ = +20% rally. On the flip side, a failure at the green down trend line (currently at 47.5 – 47.6 $), would most probably lead to another drop into the channel support.
Very short term, the bitcoin chart outlook is NEUTRAL.
More specific trading ideas and short term forecasts are available in the subscriber section. For first time subscribers, there is still a 0.99 BTC / month trial offer until March 31. Try it now.
