Bitcoin bears rejoice

BTCE:BTCUSD   Bitcoin / U.S. Dollar
804 1 8
In this chart I describe the direction Bitcoin             might go in the near future.

The general sentiment appears to be bearish , but for the moment we are in a ranging market.
Long term traders have extended the range down, moving us closer to strong support zones.

Downward pressure is not as strong, but despite that bulls have failed to move price up and revert the trend time and time again.
Time was awfully wrong, but targets have been hit.
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