Breakpoint reached! We're going down!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
In May we saw a major Bull trap which touched $679 before resuming the general bear trend.
The support level at $445 was tested in august and finally broke in september.

This chart gives an idea of price action had the bull trap not happened - we would have touched
the lower support line and be on our way out of a completely deflated bubble.

Anyway, the May scenario looks to be repeating itself and we're now about to retest the $239
support level . If this breaks we could drop fast and retest the main support at around $170:ish
before we start a slow bull march along the mean.

Disclaimer: I trade and chart for myself - please do not accept this as actual trading advice.
Happy trading!

I agree with this one... 150 have always be within expectation.
+1 Reply
Esper LastBattle
Thanks for commenting! Isn't it time for a new Avatar, man? Your last one was nice! :D
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