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Bitcoin analysis

Unless RSI becomes bullish & we break MA I see a drop to .786 & then to 6322

waiting for confirmation on both.we spike up to .5 or .618 fib levels before another dip.

Charts telling me to prepare for another possible short opportunity soon.I believe the bears remain in control of the price. If the 200 Period MA on the 4 hour does not provide support we will see continued downward price action.

In my eyes 2013 was dominated by bitcoin but the last big cycle was dominated by ALTs which would indicate for me that the bear cycle also ends in ALTs and not bitcoin...

In Looks like 1-2x btc retested middle of bb and break it i expect soon we will retest middle of BB again now that is 6545$ if break it area and stay above mid bb.

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Disclaimer: invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses.

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