Long Term Downtrend in BTC Nearing Make-or-Break Point

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Ever since the last bubble peak in December, Bitcoin ( BitStamp ) has been in a longer term downtrend which has consistently bounced off of fairly predictable resistance and support levels. But now that wedge is converging, and I expect this will be the "make or break" movement for the Spring/Summer. With the 3D MACD finally turning green again recently, I'm starting to think that this will be the beginning of a slow climb upwards in price. It will be interesting to see how long the current trend will persist before breaking out (up or down).
LastBattle, I honestly think that the market has grown weary of news out of china by now. Even if China moved to outright ban bitcoin, I think the market would suffer only a temporary setback. At this point, I feel like China leaving the market is priced in. I could be totally wrong though.
+1 Reply
BitWave Taylorvongrela
Agree, We don't need China
+1 Reply

Bulls: Ebay accepting it..

What a timing :( I hope people will start ignoring that china crap now..
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