Finally, after a couple of days of sideways action bitcoin price broke to the downside, breaking 220 and causing a mini panic sell off. The price touched 213 and hasn't seen any decent recovery, which makes me think that there will be a continuation of selling which will take us to 200 (or even a quick dip sub 200).
After visiting 200 I think we might see a little rebounce just to test the 220 resistance, which will not be broken. From that point forward I think we will see some more sideways action, with a slow-motion fall towards 200 again. Things will eventually speed up as we approach the previous bottom of 165.
After visiting 200 I think we might see a little rebounce just to test the 220 resistance, which will not be broken. From that point forward I think we will see some more sideways action, with a slow-motion fall towards 200 again. Things will eventually speed up as we approach the previous bottom of 165.