With BTC below the monthly 50SMA and now below the 100SMA and moving towards a cross below the 200SMA on the weekly, it could point to a downward movement. I will be watching this closely in the next month or two.
@SwallowPremium, THANKS! a lot of miners going to feel the pain so there will be a lot of cheap hardware for sale this xmas. Looking at 13-15k range as bottom