Monthly momentum is oversold and trying to get it's feet. Daily will be oversold soon. These two pieces may turn the weekly into a positive mode after possibly kissing 209-217- montly 3X1 from the bottom. It may hold above that. This may be our last dip down if bitcoin
has any mojo and if folks who do get it don't have balance sheets that are spread to thin. If the stock market falls apart (Shanghai and US), then we will see if money is getting the picture about bitcoin
being a valid goto. How many Chinese bitcoin
traders are over extended in the Shanghai composite? Hopefully they have learned their stuff here and can help defend these levels without outside margin call pressure. This is important from a health and mining standpoint. If those two markets continue to stay in lala land, then this is even more ultimately bullish
and carries more explosive potential.