Stead and slow fall of price
when will it stop
Yes, you're right stead fall of price is currently happen but my prediction is that the price will increase last week which it does and my prediction this week is that the price string up from weekend.
I'm not sure whether it is worth the effort to give any benefit of the doubt to the genuineness of this "down" characterization?
If you are coming up with any kind of conclusion about "down" you seem to be looking too short term, and you need to zoom out a little bit and look at context.
Maybe I can help out a little bit? More or less, here's our current BTC price context.
In May/June 2016, we had a run up from mid $400s to upper $700s, then we had a close to 20% downward correction that was exacerbated and extended in part due to the early August Bitfinex "hack".
Since early October, we have experienced a pretty steady uptrend and several relatively small corrections during attempts to break through the lower to mid $700s.
Our current price range seems to be largely floating in the upper end of the range of an ongoing uptrend pressures, largely between $715 and $755 - Maybe it could make some sense to suggest "downwards" if we start breaking below $720 or $715, otherwise prices seem to currently be in an "up" and remain "up", even we are going to experience some near term dips into the lower $720s.
Where do we go from here remains another question that remains bit difficult to determine, whether you are looking at charts, fundamentals or FUD spreading.
I am personally a tiny bit more inclined to think that continued upwards movement into the upper $700s to mid $800s is more likely than a break below $700, but I certainly would not bet the farm on any such suggestion when maybe the odds are maybe around 55% for up and around 45% for down or something like that. By the way, once we get into the upper $700s or mid $800s, it would not be surprising to experience a pretty decent battle and downwards correction at that point (even though it is not absolutely needed in order to experience continued upwards movement, such as a 5 to 10x explosion)
So yeah, wake me up and start making tiny assertions of "down" if we break below $720, and you have permission to be more vocal about short to medium term "down" if "downwards price movements" begin to appear that $700 may be tested, again.
We would only get into longer term discussions of "down" if it appeared that we were to be going below $550 or maybe lower, and with more than a $150 cushion, no one really seems to making those kinds of longer term "down" assertions, yet.
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