Bitcoin, it's looking ugly down there

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
In October 2015, a big wave begun.

This upwave is still active, however it went a bit out of control, too many buyers joined the party during this wave, bringing price of one bitcoin from 400 to a max of 20000 usd.

Kinda bubbly!

Now we are withdrawing, supports remain at 2970 level, a break of such level would mean the end of this bull-wave started on October 2015, but don't worry, it will be somehow healthy, new buyers are waiting to join the market, on a more responsible way.

On the other hand, we look also at the 12000 level, a break of such level would open the door for another bullish phase.

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