BITSTAMP:BTCUSD   Bitcoin / Dollar
723 2 2
Looks bearish still as it as been following the major downward sloping trendline all the way from the highs set back in Nov.....right now it is along major support levels of 424-432.....as they say.....the more price touches an area or level the more likely it is to eventually break that area or level.....if it breaks the 424 level to the downside then the next major support is at the 341 area........it could fall there pretty fast also as there are not too many big support levels along the way.......the final target is still 202-207 zone which is the b/o area of the parabolic move up.....as always....watch volume for confirmation
The trend line could have been drawn a little better to be a little closer to the other points. You shouldn't always draw from the peaks as just like support lines a small little spike can occur and the line will still remain valid.
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but still, we are slightly above the resistance level :)
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