veryevilone
Long

Bitcoin may snap back into the channel

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
473 2 11
I think we recently witnessed a price increase that was too agressive, possible fuled by the steam news. Now we are possibly witnessing a price decrease that is too agressive. Possibly fueled by the Satoshi fud, and the Russia banning bitcoin             rumor. Eventually for example in two days i wouldnt be surprised to see us back the green channel.
Comment: We are almost there. Technically we are already in the green channel again, but lets see if it will hold. On a side note, its interesting to note that the aggresive price rise was much bigger than the aggresive price decline. This could be an indicator of the bulls being much stronger than the bears. Which could tell us something about whats in store in the near term.
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What about this?

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Hello, thanks for your comment. I think that trendline needs to touch more candles or wicks. Or at least be based of one of the more recent candles. There seems to be nothing particularly interesting about the ccandle your trendline touches. Ie. its relatively low volume compared to some of the newer candles.
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