A moment of optimism before further declines?
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
I think we have two scenarios right now. The first most obvious would mean further declines over the next few days. However, it seems to me that this will not happen, and soon there will be a sharp upward rebound to the point of intersection of the two channels visible on the chart above. Such a move, in my opinion, would result in the formation of a symmetrical triangle. This would mean further downward movement, as this pattern is about 75% continuation of the current trend. Of course, this is pure speculation on my part, but it seems probable enough to share it with you.
This is not investment advice.
