Cryptopolaris

BTCUSD- Double bottom scenario

BITSTAMP:BTCUSD   比特幣 / 美元
BTCUSD             Midterm analysis

Current situation does not look too pretty for crypto investors. With all this manipulations going on it is not easy also for crypto traders. Whales are currently dominating the market and we can do nothing accept adopt to such reality.
Anyhow we are deep in the downtrend and things are likely to get even worse. For me most likely scenario is that we will exit this negative trend after formation of double bottom . This formation is bullish and could be a good catalyst for trent reversal. Let us hope for the best!

How I fight this downtrend: stay in fiat, short the market, after BTC             hits 9000 slow entry (steps) on alts market with fresh money

BRGDS, Cryptopolaris
Still think we go lower? 9600 has been good support.
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Cryptopolaris simplegray
@simplegray,
Yes, very likely. The volumes on the market are low. There is no fresh capital which by itself puts pressure on prices. And do not forget, on such low volumes pros can easily manipulate the market.
But you are right that 9600 is a good support which, by mine opinion, will be broken sooner not later ;).
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Cryptopolaris simplegray
@simplegray, After seeing the descending triangle forming, it became quite obvious that the 9600 support will not hold.
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