If history repeats itself, maybe we'll see BITSTAMP:BTCUSD going down to the area marked with the red rectangle.
On the 4H chart, BTC is already touching the near-term uptrend that started on October 24th, and just 100 dollars away from the MA100. It it breaks those levels, a bigger fall seems likely.
Let's see what happens!
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The short-term trend line has been broken, but the MA100 level is showing some resistance around $ 6600 - $ 6650.
If we have another red candle closing below the MA100 on the 4H chart, the price might continue falling to the $ 6200 level (older uptrend) and then to $ 5800.
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$ 6380 @ 13:00 UTC. We are 19% down from the ATH.
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Chronicle of a fall foretold
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$ 5850 @ 5.50 UTC. We are more than $ 2000 down from the ATH (- 26%).
The price has fallen below the MA200 level, and it seems that the fall will continue as expected.
@Strybie, we are already 18% down wrt the ATH, and the MA100 level was finally broken after a small bounce. I think that the next support is @ 6200 (that's an intersection with an older trendline). We have to wait and see what happens when we get there.