[2016-04-27]Bitcoin Price Watch; Downside Profit Position

[Blawpaw]

Bitcoin Price Watch; Downside Profit Position

As the chart shows, action went against our initial upside bias, and broke through the level we had slated as support to the downside shortly before lunchtime in the UK. After this break, a sustained downside run carried price to our downside target, pretty much directly after the break in question. While we obviously prefer upside trades (as these serve to benefit our longer-term holdings as well as our short-term speculative efforts), our breakout strategy is...

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[richardsNY]

My guess is that the price will come down to around $430-$440 in the coming days/next week. Euphoria will make place for fear of going down again by the less experienced traders very soon. It's bound to happen.

[1Referee]

My guess is that the price will come down to around $430-$440 in the coming days/next week. Euphoria will make place for fear of going down again by the less experienced traders very soon. It's bound to happen.

Looks like you are spot on about the price going down to $430 and $440. Currently the price is getting some decent beatings which allows people to enter the market at a fair price. My guess is that it will drop even below $430 as there is a lot panic going through the market.