spurls

Possible break-out levels for BTC's descending wedge

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Big descending wedge .

There's fairly strong support at the 6000-6200 zone.
If it breaks that zone and considering the following levels of support aren't very strong,
there's a fair chance it sees out the rest of the descending wedge .

Thoughts?
It's certainly possible. The bear market has not gone near as long as the last one. If they are even closely similar in time the price has to go somewhere. We know it will continue to the right so the only question is whether it will go up or down. The longer this drags out, the more likely the price will continue to decline in my opinion. The trend since January has been down with plenty of ups and downs in between but over all down. No reason at this point that the trend will not continue.
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