Stamp is looking mighty bearish

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
most sell offs of this scale get to the 40 ish             range on ADX . We're at 24. I'm aware that I posted some charts earlier today saying that we may only reach 553 ish             , but I'm reconsidering now!
actually there is a divergence in ADX. also watch that DMI- went down from this level the last 2 times it was over DMI+.
dmi crosses give good signals, but they are late
Maddie, if you compare the willy indicator in this chart to the last big sell off in march, we still have a potential $150 worth of down from here - $400-450 is very possible here imo. 490 is just a fib ext level...
+1 Reply
BitcoinGuru SunnyBTC
I have been reconsidering too for the past 2 hours and I am also going to step aside and set my buys at around 505-515 for now OR the 400 level as you have pointed. The worth/return is much bigger and worth's the risk.
SunnyBTC BitcoinGuru
EliX. Sounds like a plan, keep an eye on fib levels 466 (61.8%) and 418 (76.4%) too... but I expect a $30-40 bounce around 502-520 area
SunnyBTC SunnyBTC
Ahh ignore.... that's btce not stamp...
Maddie SunnyBTC
Okee, thanks !
Why do you think we are going down to about 490?
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