Those lines you drew are good lines and are reasonable targets. The bear scare, however, which hasn't really come true in over a year, is what makes me think it's going to reverse before getting below the linear trend line.
YaKa
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I would be well annoyed if I had to take a decision now but FORCED TO TRADE I WOULD GO SHORT.
Every Technical Analyst conclusion would be to buy here and it is valid from charts but here is the thing. The pattern is good on assets that are not only speculative... the move from 400 to 1100 in 11 days is indication of the intrinsic value of this "asset".... I dont know.. we ll see.
MoonTrader
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Yep. Short until $225 or so.
YaKa
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2 days; 50usd.
These moves can last 9/13 days...
at this rate, 100 is very close.
johnrfraser
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resistance turned support at about $122, this looks a more obvious price point than $65, no?
YaKa
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It does not matter much... i refine around key targets.. Now the price needs to deal with 260/240/195... then 100ish.. but you know after that the psychology of the longs will be so eroded that it might slide slowly through everything.
I Think the bulk of the move down could be an acceleration to 100... then it may be slow with rebounds, until the oscilloscope becomes as flat as it was pre 2013.
IT TOOK 11 DAYS FROM 400 to 1100 BEFORE COLLAPSING. NEARLY 300% IN 11 DAYS... No this is is not speculation:)
LET'S SEE WHAT 11 DAYS DOES FROM HERE ON THE WAY DOWN (316 2 DAYS AGO).
DAY 2: - 60 USD