ChartArt

Small bounce or game over for Spring 2015?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
543 5 2
Bitcoin             is at the cross-road between resuming the long-term multi-month downtrend in the coming weeks or giving the uptrend another new chance after a massive sell-off. Using the new LazyBear multi-time frame indicator (https://www.tradingview.com/v/WPXemjOf/) the signal is showing in 2 timeframes (240/360) that there is at least a small chance that at least a short-term bottom for 1-2 days is reached at time of publishing this chart.
Here's a recent chart with 4hr/6hr/12hr/1D RSI MTF Pane.



The 4hr/6hr are oversold, and technically this should cause a small bounce *atleast*, but this is BTC :)
+4 Reply
both trend lines broken, triangle broken down,
what's next?
Reply
IvanLabrie jangseohee
Now we revisit the lower end of the spectrum, 150 first, then 124 and 86.
Reply
BitcoinGuru IvanLabrie
agreed but first bounce will be at 185-200 level imo before going to 150 and lower..
Reply
IvanLabrie BitcoinGuru
The strongest levels are the ones I mentioned in my view.
Highest chance of reversal when meeting them.
+1 Reply
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