Long Term Update: new upside breakout is at hand

In my previous update i was expecting a top around $400; “…….. i think that a final top might happen at or below $400 before a strong correction will take place……..”, i’ve been wrong and XBTUSD topped at $500 with an impressive lecture of the Chaikin volatility indicator, see chart below (click to enlarge).

chaikin
At the moment the volatility indicator is below zero despite the recent price spike to ~$370 that i consider resistance for this week ($360-$390 price zone).  The forecast i’ve done in January is still valid and i think that without an insane volatility level it’ll be hard for the next top to be above $650-$700 before year end.
As usual i’m open to comments here and also in my irc channel.

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3 thoughts on “Long Term Update: new upside breakout is at hand

  1. Christian A also know as testianer

    Thanks for the update, Enky!

    Bought at 240 (long term) and 320 (short term); I think I’ll sell my short term funds at 380-390 if possible.

    ADX has turned up, I’m pretty optimistic we’ll see at least 380. Weekly chart also looks good to me.

  2. Pingback: Enky Nakamura predict resistance of ~$370 | coincidental

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