, as long as nothing major occurs in the world, now has to find it's "resting place". It's value, vs USD can of course be hugely affected by the strength/weakness of the USD itself, which, since late 2014/early 2015 has shown some significant strength against most other major currencies. Go ahead and pull up some charts against the EURO , Pound, Swiss, JPY, etc, USD is gaining strength - it would easily be safe to assume that this is part of the reason it's price has continued to swing down since November. So always keep that in mind when looking specifically at BTCUSD .
I believe it will be quite difficult for to break much below 100 at any point soon, unless, again, something drastic happens like a massive flaw is publicized, discrediting the entire crypto system (or specifically or any crypto coin that runs off a derivative).
Also keep in mind that if/when the USD loses it's strength, will go up against it. China is getting closer and closer each day to taking a major dominating position in the world economy.
Anyway, I'll leave your thoughts with that for now.
I've added an updated screenshot with a bit more S/R lines.
With that said, i think I'm going to pickup a little BTC at current levels. Just a bit... and we'll see where it goes in the next few weeks.
Yes!... and China is now determined to keep 7% inflation at any cost. They are now joining the rest of the planet in their morbid fear of deflation. We will see 1000 very soon.