MysteriousPersian
Short

looking bearish for more

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
A few factors make for a heightened chance for an even lower price for BTC from here.

First off the downward trend we though had been broken was most likely a false breakout. The daily candlestick made a decisive close underneath it. Not to mention that the price is currently consolidating underneath short term support forming a possible double top after the inverse head and shoulders was refused.

Finally there is the candle stick pattern that consists of the 3 big red candles after the doji top.

The odds of this downtrend continuing are quite high so looking to short here.
Comment:

possible head and shoulders fractal in 5 minute chart. along with bear flag. good chance of going further down
Comment: just as i thought, the fractal completed and completely dumped right after. this could go really low. Maybe back to test 6k in the coming days
Comment:
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