cointrader11
Short

Bitfinex - 18 Month Bear Trend

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We are still within the logarithmic downtrend from Winter of 2013. I've been a bear since the run up to $310 failed. If we break $215 target for support would be $130, but this would take extreme capitulation. Possibility of double bottom at $165 still exists. If we break up from this trend line , I would consider $310 the next resistance point but I really doubt we break up - there is still no apparent reason for consumers to buy Bitcoin and Supply > Demand until the next block halving.


Feel free to leave constructive feedback below.
130 is much better, i think you had 85-90 on your other chart. I was like "what about all that price support? werd up.
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