Pullback looks likely

Heres btc-e on 1 hour chart

Since beginning of March price has followed a trendline sloping up quite steeply, shown in green dotted line. However bitcoin has now fallen through that line. Also looks like rally since the low has reached top of what looks a bit like a rising channel shown pink dashed lines. Wouldn’t be suprised at all to see bitcoin fall towards that lower pink dashed line which may provide nice buying opp if you are thinking of starting accumulating some bitcoin.

Advertisements

5 thoughts on “Pullback looks likely

  1. Bitcoin suprised me a little after pushing up through a trend line I had penciled in as parallel trendline expecting resistance.

    Looks like it wants test the top of this pink dashed channel line again, so pullback seems delayed.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s