ShortThePlanet
Short

The downtrend is about to resume

BITSTAMP:BTCUSD   Bitcoin / Dollar
603 3 5
We have touched exactly the 0.382 fib retracement level of the previous downward move from $995 and found the new downtrend channel which is confirmed by the 2 previous lows.
Your fork comes from nowhere. Your fibonacci retracement has been made up from $995 just because it matches with your wishes.
Your analysis makes me quite perplexed.
IMO, if you see btc-e datas, we're still in a downtrend because we're still in a wedge.
Take a look at it :
snapshot
Reply
I agree. It's trash. Been seeing alot of this kind of crap from the bears lately (cherry picking), especially on bitcoin blogs. You can tell they are getting desperate :)
+2 Reply
Have your shorts been squeezed yet? :)
+1 Reply
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