redcap3000

Bitcoin Price Decompression

BITFINEX:BTCUSD   Bitcoin / Dollar
43 0 0
Clearly the market is at a standstill, yellow circles indicate a compression of values, and now we seem to be reliving the decompression of those values. Continued small margins will persist before a final dip, spike and drop occur. It is not clear when this will take place; but the overall trend will match that of this weeks activity - periods of little price fluctuation - or sideways movement. Once the move does occur it will do so rather slowly; three waves of down trends, or chops, will mark the decline, and one or two 'uptrend' waves will mark the retrace; a value no greater than 254, before the new 'low' support levels are established and destroyed; which at this rate may happen over the course of at least weeks at the same rate, or even slower than the current trend.
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