BTC 15 Days Outlook

20 Des 2013

I've highlighted 2 possibilities which I think are most likely to happen, and charted the first which would be my choice for the next 15 days. We just bounced off the 61.8% fib retracement, which coincides with very heavy resistance (it's been support/resistance for the past month), and barring any bad news, bitcoin is currently not likely to make new lows or even approach the previous low. So we might be entering a triangle which ends at around Xmas, after which it will break up (Bitcoin breaks are bullish imo), unless more bad news happens (which is a very big possibility at this point). So the next line will be downwards, following a 61.8% retracement to 530.