BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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We have a higher low price on daily, lower low on RSI , and we are in a retracement uptrend from 450$ level. I think we're going to get a huge uptake here, we jumped 30$ from 560-590 in 12 hours. This was only the beginning. I also support that we could make one final low to 545$ area then BOOM, rocketship.
Does this look like the downtrend just ended or does this look like the downtrend just started? I say it looks like the downtrend haven't even started, yet. We are going down more:

Herojuana ChartArt
Weekly will do a fakeout and daily will bring it up higher to overbought. If it continues down then weekly could continue and massive sell offs will begin, not likely but possible.
-4 Reply
ChartArt Herojuana
And that is the problem. It's possible.
MoonTrader ChartArt
I guess you could call that a problem, but theoretically, anything is possible. I try to deal with what is likely.
ChartArt MoonTrader
To me it's much more likely we are going down more to $450. But I will be very happy if that is not the case. I like Bitcoin.
It seems unlikely that we would reach $545 since that would mean breaking support at 554, which might cause a panic.
Herojuana MoonTrader
Good point, but when the daily has been this low, its been known to do one last sell off before the burst up, doesnt give anyone the time to panic, or they get caught and sell at the bottom!
-4 Reply
MoonTrader Herojuana
I see. So it would be like a flash crash like SR last year?
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