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.