After nearly a month of flirting with the bottom trendline of our channel, bitcoin finally indicates which direction it wants to go before August 1 and, as suspected, we are going down. As indicated in previous post, I am not a seller until we break below our green channel. We've done that today. I have transferred all of my Bitcoin (BTCUSD)value into Litecoin (LTCUSD) and will remain there until after the fork.
Our first stop on the way down will be $2400. Small bounce here. Probably quick. Maybe only hours to trade. Next, $2375. Followed by, $2320. $2275 Possible support @ $2200. Then $2100. If we break through the red trendline to get to $2100, it will definitely indicate more downside from here. I will re-analyze once we get there.