mrzaitsev

BTC: "Tree Black Crowes"

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD .
After touching medium term bear trend (pink line) on log scale we've got 3 black daily candles in a row which took away more then 20% of BTC value already. Slope of this decline was steep and volumes were high. We shall take it seriously because of so called "three black crows" candlestick pattern (http://www.chart-formations.com/candlest...), which is famous bearish reversal formation telling us that bears are getting control over the market.
So lows of tomorrow will likely again be lower then today. Near 8900 lies 50% Fibonacci retracement level from February growth. This area can play as line of defense for bulls in their fight with roaring bears.
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