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BTCUSD bounced off trendline from ATH

BITFINEX:BTCUSD   比特幣 / 美元
The main reason I don't think that this is a bear trap is because BTC             cleanly bounced off its downtrend since ATH             , making a third point of contact with a long down trendline . Litecoin doesn't look the same but we know BTC             is king and strongly dictates movement.

Check out this 4h chart: Pretty clean bounce off that trendline . There was no reason to believe in a full blown recovery, not yet. If this is accurate, I'd expect a continued downtrend. Something like this (see chart). I just am uncertain how low it could go. If the market is continuing to deflate, more and more of the new crowd of mainstream adopters will become disheartened/disillusioned, as their 'investment' x --> 0.

I still think it's possible we are seeing a repeat of, or some similarities to, the 2013/2014 crash.. This would mean a long bear market, bottoming out around 4000. I think this is possible, considering the ferociousness of the last bull run, the number of people that have been burned by this downtrend, loss of confidence, etc. Though I obviously can't know for sure.

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