(zoomed out version)
BTC/USD is consolidating between $200 and $250 and the overall trend is strong if the long resistance of $256 (Fibonacci pivot for the year 2015) gets again a breakout above.
On the downside long-term support is around $192-$197. Prices below will drag Bitcoin much further down till $133, maybe even $65.
Weekly resistance is around $250 and a break above will extend gains this week up to $265.
Recommendation: Buy BTC, Monthly stop loss $208, Long-term target for the year 2016: $400.
BTC/USD is consolidating between $200 and $250 and the overall trend is strong if the long resistance of $256 (Fibonacci pivot for the year 2015) gets again a breakout above.
On the downside long-term support is around $192-$197. Prices below will drag Bitcoin much further down till $133, maybe even $65.
Weekly resistance is around $250 and a break above will extend gains this week up to $265.
Recommendation: Buy BTC, Monthly stop loss $208, Long-term target for the year 2016: $400.
