Bonavest
Short

How Far Down the Rabbit Hole We Go?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
345 4 5
Not too far, but to some bulls this seems a bit too much. Sounds reasonable to me and from this point I will be looking to buy dips. I believe Bear season may be coming to a close for awhile.

My previous chart about the 'Drop' is what we are seeing now. The RSI got charged up and is now beginning to fall. this should setup what I was drawing attention to in that 4hr chart.
you are as stubborn about going short as I am about going long. One of us will finance the other.
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Well take the red pill as a starter ;) Have a nice weekend
+1 Reply
Yes, bears already took advantage of the currently high price and tried to crash it. But like I expected it seems they were only able to bring the price a little (down to $233.5 on Bitfinex).
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As another thing to watch for... what if we were to be entering a 2-3 week long sideways range channel? That would totally signal that there was no more down to be had. What do you think? i will get excited if we go down to $216 and bounce back to $240 one more time. Perfect range trading!
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