Robinerd

Correction into longer-term triangle?

BITSTAMP:BTCUSD   Bitcoin / Dollar
614 0 15
Seeing that volumes are decreasing while prices are crawling along the lower edge of the shorter triangle makes me think we'll see a correction, down to the previous resistance around $700 which should now act as a first support level .
If this drop is enough for new investors to buy the dip, we'll possibly enter a more long term triangle facing upwards.
We could then climb back up towards $780, eventually followed by a break-out towards the previous ATH             , where we'll likely see another profit taking correction.
For me, I will not short, but just hold my position through the dip and probably buy more at the dip.
The aggressive trader could try to short her position if the downwards break out starts with strong volumes.
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