BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Expecting price to be limited on the daily by the "death cross" of the 50/200 moving averages. Further downside with short term dead cat bounces at 6k and 5k are likely. Looking at the $3600-3000 area as a potential bottom for now. Of course, if price breaks up past the major downtrend line of resistance, we will reevaluate with a possibly more bullish sentiment. Even with strong volume on a bounce prior to the 3k area, I plan to hold off on any longs until we have real confirmation via a break of downtrend lines of resistance and a close over major moving averages on the daily.
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