Any Bit Bug who bot @ $400 is looking good. If it can break thru $500 it may spike up to $700 or higher, before its terminal decline. It's a common B wave pattern (suckers rally) after a parabola. Gold and silver did it a few years ago and their bugs are still true believers, just a little quieter now. :eek:
Nice thin consolidation just below $500. I'd be holding long if it were a stock, looking for an upward breakout with stop near $470 and potential target at $7-800. Real bull market advances usually come after long bases with very sneaky stair step advances before the parabola. Bear market rallies come in spikey, "surprise" type movements on lower volume, and this latest pop fits the profile. If it hits $800 and dies out, I'd cash in the chips.
$266.40 on 10/18/15 It's too bad the bit bull never came back for all you fundamentalists. In hindsight that long term price pattern is the unmistakable parabola then cat bounce. I've seen it over and over in the penny world and I rode many slopes of hope a little too long. I learned my lesson, no more flaky stocks for me.
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