An Old Chart W/a good historical look

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hmmmm.....The earlier pattern this month is proving the point that BTC is continuing down. Note we are at the infamous 1.272 extension . Since there has not been an uptick response to the retest on the 17th, I am predicting that BTC will extend to the 1.618 levels. Big money wants to shakeout the weak and then control BTC with the futures markets. Why do you think that most major financial groups are now trading BTC with algos....A decentralized commodity can be controlled with futures . I will not touch BTC until the the big boys decide to move in.
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