Bitcoin is trying to hold this extremely large volume and time level at 237 with this recent decline off of 296. There have been 4 impulsive moves down where the range expanded as the sellers trip over themselves selling off Bitcoin and trying to find the other side of the trade. The last push down 3 days retested the big support level at 237 where there were 20 days of accumulation in the rally in January-February.
There is the look of a double-bottom, but if we don't go above 249, then this will just turn into a measured range for another decline. SO, clearly, it's a buy above 249 and it is a sell below 237 and we sit right here in the middle at 242.
Time will tell.
Tim 4/1/2015 10:57AM EST 242.98 last
There is the look of a double-bottom, but if we don't go above 249, then this will just turn into a measured range for another decline. SO, clearly, it's a buy above 249 and it is a sell below 237 and we sit right here in the middle at 242.
Time will tell.
Tim 4/1/2015 10:57AM EST 242.98 last
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