ajdourgarian
Short

Bitcoin to 3500 then bounce to 4400

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
It seems Bitcoin wants to go for a second dip. target is around 3500, based off of the recent bottom down there and a fractal Bitcoin dumps seem to like. After 3500, we could see a bounce all the way up to 4400.
Comment: Some trend line love:

Comment:

Might be worth waiting for this smaller trend line to break.
Bitcoin to 3500 then bounce to 4400 ; i agree
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To me this is a PBOC tric. Do you really think they ban exchanges after months work a while ago to KYC all the major exchanges? This is just a 2nd tier media fud assignment for china to buy cheap btc themselfs.
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After the move from 3500 to 4400 would you be expecting another leg down? Do you see 4400 capping any rises?

I can understand why we'd have further downside short term but believe that with the advent of derivatives trading (institutions being able to hedge risk) and the possible announcement of an ETF at some point there are several potential bullish catalysts.
+2 Reply
ajdourgarian alexhartley1
@alexhartley1, I"m not totally sold on this idea yet. I've got another idea on my profile for BTC that might prevail. I'll have a better idea after we see a bounce.
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ajdourgarian ajdourgarian
@alexhartley1 I mean that I'll be able to answer your question after we see a bounce, but i'm not sure how it will play out yet.
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alexhartley1 ajdourgarian
@ajdourgarian, Fair enough - it's not going to be easy but it's definitely starting to trend down so even if there's a smaller bounce here or not I'd imagine 3500 is quite likely. Mind you the more people that keep mentioning it on twitter tends to make me go the other way!
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