The next 6 weeks will determine the Bitcoin price trend of 2015
Since I pointed out at $325 that this could be the end of Bitcoin's 2014 downtrend (also meaning that there could be a rally) (tradingview.com/v/skfrVrQ2/) the price increased almost 40% up to $453.92 on Bitstamp. Sounds good. But then the same day it peaked also occurred a flash-crash, where the price crashed down to $381.55 in a very short amount of time and thereby essentially ruining the momentum of the entire previous rally (see also the chart created by SunnyBTC tradingview.com/v/C42cG0Bw/)
The problem is that for the rally to continue it now needs to break past the last peak of $453.92. The market always follows the path of least resistance. The next 6 weeks will determine the Bitcoin price trend of 2015. We are now in week one of this key directional trend decision were Bitcoin either falls below the 3 year average price and continues another year of price decline or bounces from this low price upwards to start a new extreme uptrend.
P.S. If you like my charts, you can leave me a tip:
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The problem is that for the rally to continue it now needs to break past the last peak of $453.92. The market always follows the path of least resistance. The next 6 weeks will determine the Bitcoin price trend of 2015. We are now in week one of this key directional trend decision were Bitcoin either falls below the 3 year average price and continues another year of price decline or bounces from this low price upwards to start a new extreme uptrend.
P.S. If you like my charts, you can leave me a tip:
1PmAnb2htvHnCbwNAxkV7b8XvVQyQ7LQLg
Thanks!
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