ChartArt
Short

3 Bitcoin short targets and a Buddha quote

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin is still facing a larger correction, as I pointed out in a previous chart, since the price dropped below $616 to $608.

Either the BTC price will move down to 595-600 US Dollar as only a quick pullback. Or we will see a medium size test of the last 550-585 US Dollar bottom area and then we will stay above this price level this year.

Worst case there is going to be a double top pattern and the price makes a very large correction down to about 495 US Dollar , before the overall very strong uptrend is resuming with full force.

Stop loss for the short is around 625 US Dollar to 635 US Dollar depending on your risk taking.

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"Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment."
- Buddha
Excellent quote!
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Thanks for bringing up the quote and nice analysis with reasonable SL.
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Nice quote
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