Bitcoin likely to continue downtrend in the short term

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Prices recently fell through the lower bound of the medium term trend line (point A) and while an attempt to establish a convincing rebound above this line is possible, it remains unlikely (point C). The more conceivable trend remains downward in coming weeks while we approach the lower bund             of the long term trend line (point B). Spattered resistance is likely on our journey to the depths (point D) with target prices existing between $208.00 & $289.00USD following the concrete             short and medium term downtrends.

On the lighter side of things a quick rehash into fundamentals of the underlying technology should give those 'in the know' a reason to cautiously smile. Whales and trend traders (myself included) will likely see immense value on the lower bound of the long term trend line and this may be the long awaited signal point to re-enter a fresh long position targeting new highs at the upper bounds of the medium term up trend. Until that day.... cash is king.
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