On April 10, 2013, we posted the SRL for Bitcoin, the electronic “currency” (found here). The goal was to was see if we could determine the downside target using Edson Gould’s Speed Resistance Lines (SRL). Based on the published chart, we had a conservative downside target of $92.57 and an extreme downside target of $79.18. The chart below depicts the outcome, so far:
Depending on the source, on an intra-day basis, Bitcoin fell at or below the extreme downside target as projected.
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