A long-term Bitcoin chart (weekly time-frame) shows most indicators signal a large downtrend. But the price might still bounce at $450. Otherwise the price might fall much lower. Current price is below $500.
------- MACD (Moving Average Convergence/Divergence) shows the begin of a downtrend
ROC (Rate of Change) shows currently a downtrend
Stochastic Oscillator shows currently a larger downtrend
Volume shows currently a larger downtrend
Weighted Moving Average (WMA) 9 period shows currently a larger downtrend
Weighted Moving Average (WMA) 90 period is still neutral, but close to a very large downtrend
Gann Fan shows the price is close to a very large downtrend if the price falls below $400
Fibonacci retracement areas signal a possible bounce at around at $485 (0.382 Fibonacci retracement) or $325 (0.236).
Looking at the weekly Stochastic indicator It seems that we were 'cleaning up' the entire last uptrend from May, June, July in August. It seems there is room for one last leg down to test the $450 bottom again - before a new uptrend starts.
ChartArt
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It was damn close, but it seems we made it and have a bottom:
MarvinMartian
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Oh, and if anyone wants to talk crypto charts.. IRC Freenode we have a decent sized channel, pm me for the name.
Looking at the weekly Stochastic indicator It seems that we were 'cleaning up' the entire last uptrend from May, June, July in August. It seems there is room for one last leg down to test the $450 bottom again - before a new uptrend starts.