Bounce into the meridian of a longterm downtrend (#bitcoin) for BTCE:BTCUSD by altcoin_invest

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While lot's of ppl in here are full bullish I see just a perfect hit on our intact longterm downtrend channel . RSI inkl. selloff today give us the confirm that the chart will stay in this channel. The only question is how long. But out of question I quess is, that befor any move up we need to find our support level in this channel.

What also confirm this TA is my last one which is even showing a middle-term uptrend channel , also hit the meridian + RSI and Ichimoku cloud confirmed. You'll find it here:

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Excellent chart! I especially like seeing the Ichimoku confirmation and the fact that we are above the cloud for now, with support at just the right place for a bounce. This matches the start date for some of my long-term charts for Jul-1st begin to the newest rally up to $4500+ by Jul-26th. I think after Jul-20th, we'll see potential somewhere between $4500-6500, but I've been sticking to a conservative bullish number of $4500. Next long-term rally won't happen for a year to a year and a half from the end of that rally with lots of day trading to be done in the interim.

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....ups bad title. I mean: Hit the meridian of a long downtrend channel, for a crash

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Bounce into the meridian of a longterm downtrend (#bitcoin)

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