The bears won big time in the last 3 days. I did not expect it at all. First the $9200 support broke, then I thought no way we are going to break the $7600 support, because that is where we bounced from 1 day earlier.
But then $7600 broke with no resistance and we went all the way down to $6088 about 1 hour ago! Looks like nothing is supporting the bulls and it is all bears. The bears are still in control. How low will we go?
Here is the 3 day Bitstamp chart from Bitcointicker.co:
I just watched Tone Vays latest update and he says we have huge support at….. wait for it, $1300! No ways will it go that low. Surely the bulls will return well before that level?
The weekly candle chart is still bearish according to Tone. If we continue with this trend, the first resistance in the next couple of weeks is $4700. If this price breaks we are going to $1300. Ono!
Tone Vays technical analysis video about 8 hours ago:
What do you think of the current bitcoin prices? Are we going to $4700? Or $1300? Or back up?
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Colin Brazendale
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I am a successful bitcoin cloud miner and affiliate of Genesis Mining and USI Tech. I have been mining for the last 19 months. I highly recommend Genesis Mining and USI Tech to earn bitcoin and make money online. I believe it is more important to earn income than hold assets. That is why I recommend mining crypto and blogging on Steemit.