As an update to last post Bitcoin Drop Out, heres the latest view of the bitstamp chart, again showing 1 day candles.
The wedge I showed previously has now resolved downwards with price falling down to about $580. Now I’m looking for support around this price level which is quite a good test of my pitchfork hypothesis.
If the fork doesn’t hold, I would look for next support line at about $530 which I located with some parallel trendlines matching the slope of the pitchfork.
Lets see how it plays out