UPDATE: Bottom is in

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin did exactly as planned. It dropped the height of the rising wedge and found support on the falling wedge it broke out of before the long consolidation. THIS DROP HAD TO HAPPEN. too many people were bullish . If you look at the monthly stoch RSI , we have hit the absolute bottom of oversold and this hasnt been seen since JUNE of 2015!! Be careful because of massive panic. This makes the spot we are in VERY VOLATILE. but this is support and we only have up from here!

First level to bounce up to is 7200

Close to the moment of truth
Comment: target is 8030
Comment: ahhhh... if youre gonna short bottoms, you should at least donate to me instead(;


Still not big volume seen in btc. So i think we will likely hit 6.5k-6.3k range and even a drop further is possible. What do you think? I have still left my shorts open.
Daynada sankarmail
@sankarmail, it is definitley a possibility so i would wait and see for a couple hours before pulling out of your shorts
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