CryptoFRAER

BTC/USD completes downtrend?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
On the weekly chart you can see a certain picture:
- 200 MA Took all the hit and became a big support in this downtrend
- The shape of the descending triangle almost perfectly played itself, not having worked just a couple of percent, since 200MA stopped the fall almost at the very end of the figure!
- Weekly volumes are falling, which also gives a sign that the bear market is weakening and there are fewer sellers
The best solution for this scenario is to re-test the support of 200MA as this will put an end to the Bear trend and will give the opportunity for the start of the bull ralis and new heights! Now the important point is the support of 0.236 for fibonacci, punch it means we are going to repeat the test
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