Bears still in control

BITSTAMP:BTCUSD   Bitcoin / Dollar
I'm short-term bullish as we come to the end of a bigger descending triangle while testing $340 resistance, which has been tested several times, but there's been a lot of selingl volume lately. Sometime in the next week, I expect the price to react to the new moon and finally break $340 support with conviction and go on to test $300s and possibly down to $250 in the longer term.

The big blue line on the chart is the long term downtrend line from the $995 peak shortly after the ATH             from the last bubble. I expect this line to stay intact for now, but as I've mentioned before, I think we're headed for a significant crossroads soon that will determine the long-term future of bitcoin . This pump appears to be somewhat more resilient than the last one, but it's still following a downward trend that could end in a panic sell rather quickly.

I accept BTC Donations:


Also, if you're interested in setting up a trading account on Bitfinex, message me and I'll get you 10% off trading fees.

Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out