There's also a massive reversal zone that has been in play for a few weeks already that will likely continue to hold for some time, and quite a few divergences on multiple higher time-frames. There's also been pretty big failures of support around the current prices which are definitely big indications of more down-trend to come, and the news in general has been very with the rejection of the , China getting more strict with regulations, and the Hard Fork threats coming from big miners and holders.
Either way this definitely looks very with the break down out of this weekly triangle, and we should see some significant retracement from here. We'll have to watch each support to determine how low this is really going to go but for now it's a good idea to steer clear of bitcoin . However, many altcoins look really still, so they may actually perform pretty well while bitcoin works out its problems with the , China, and the Hard Fork over the next year.
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