MoonTrader
Short

Possible bearish targets

BITSTAMP:BTCUSD   Bitcoin / Dollar
As the charts begin to turn more bearish , we are forced to look for some sign of a turnaround. The trend, which has been going on for over a year, appears to still be intact. I expect that we will either form a double bottom as we did back in 2011 (I will link to an interesting chart by lowstrife that caught my attention), or we will have one final leg down to the $120-$130 level where we will find the most support. If that doesn't hold, then we could see a flash crash to $86 followed by a very slow crawl upward/sideways for a long time. At the current rate, I'm sad to say it doesn't look like we will see a swift recovery. It may still recovery, but it may take longer than we expect.

One thing is clear now: that the China bubble really was a bubble. Now we are in the despair phase and we may hang around here a bit longer before an uptrend can begin in earnest.
Lechango PRO
2 years ago
It's funny because the China bubble wasn't even really a China bubble, it was a Gox Willy-bot bubble, the chinese just followed and made it even worse. We are indeed still paying for it and we may have not even seen real despair yet.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out