BTCUSD is still looking bearish may see more downside.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
We have not made it back to the other side of the trend channel. We even tried to get past the midline and the EMAs several times but failed. If we do not get past the midline in the next day or two, the price of the Digital Gold will go down to Previous Support (9369.00). However, It will eventually find a base and trend higher.
Comment: We are still looking for support at these levels (R1). It must hold at R1 or we are headed to R2. BTC are flushing out all the speculators. When they give up the ghost then BTC will rise.
Trade closed: target reached: Unfortunately, I was right again. Target Reached.
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