Support did not hold... But don't panic.

[randy8777]

Has the price trend reversed?

Wait for it to go and stabilize above 270 or so...  At least that's what I think.

at this point it won't be easy as there are traders who bought in at around $220 and are going to dump as soon as it goes higher. my guess is $250 within 2 weeks.

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[minerpumpkin]

Has the price trend reversed?

Wait for it to go and stabilize above 270 or so...  At least that's what I think.

at this point it won't be easy as there are traders who bought in at around $220 and are going to dump as soon as it goes higher. my guess is $250 within 2 weeks.

Would really love another surprise rally or rather a sustained growth like late February and early March. If we can do this again with this second, higher, double bottom, chances aren't bad we'll be exiting the 15 months downtrend this time.

[tokeweed]

I'm pretty sure everybody will...  Even the guys who are shorting it right now.   But this run up could only be a...

[ensurance982]

I'm pretty sure everybody will...  Even the guys who are shorting it right now.   But this run up could only be a...

Image isn't loading... but from the URL I can tell that you're talking about a "dead cat bounce"... Yeah I wouldn't call it that way, but rather an attempted breakout that bounces off resistance. But for the time being I remain cautiously bullish and hope for some more shorts to get margin called There's still time to close, bears

[tokeweed]

[minerpumpkin]

Those aren't even dead cat bounces. Those are more breakout-attempts out of a falling-wedge or falling-triangle, actually! It is only natural for the price to try to break out of the resistance, and by doing this it may very well fail, until it doesn't at some point.

[ensurance982]

Now I see the picture... I agree, that doesn't look like a dead-cat-bounce. Yup, falling something with the price trying to breakout off it while failing to do so. Right now we're knocking at the support line, let's see if it holds :/

[tokeweed]

Now I see the picture... I agree, that doesn't look like a dead-cat-bounce. Yup, falling something with the price trying to breakout off it while failing to do so. Right now we're knocking at the support line, let's see if it holds :/

You are correct.  It will hold.  Buying now and holding for the longterm is the only play here.

[tokeweed]

Those aren't even dead cat bounces. Those are more breakout-attempts out of a falling-wedge or falling-triangle, actually! It is only natural for the price to try to break out of the resistance, and by doing this it may very well fail, until it doesn't at some point.

What about now?