And after this profitable sell-off...

[madken7777]

Strong resistance at 470 for the short term bottom price. Longer term, no one know for sure.

[zby]

Still sounds like the bottom.


If we were supposed to go lower se would have gone there so far i think. Everything is possible as always, let's see.

It looks like a bear flag or pennant.

[RyNinDaCleM]

Still sounds like the bottom.


If we were supposed to go lower se would have gone there so far i think. Everything is possible as always, let's see.

It looks like a bear flag or pennant.

seconded!

[Wilhelm]

You only know where the bottom is when looking back.

The 200 EMA on the daily charts is positive which is good.
But on all the other charts (4H,1H,30m,15m,etc.) it is still negative.

I still believe we have some days of punishment ahead.

[madken7777]

Soon we will know if the bottom is real or if we are gonna go below, if we have another long leg down it's gonna get incredibly bearish  .-.

If it goes down, next bounce will probably be at $450 at bitstamp. The trend line I showed in the first post is actually there at Bitstamp, whereas it's higher on Bitfinex and Huobi.

The price action on altcoin looks like there is a liquidity crisis. Bitcoin will certainly be affected to certain extend.

[CoinDiver]

UGH. This is hard. We need some great news. Individual retail adoption isn't the kind of news we need now. We need some sort of a mass adoption event. Paypal would work. Or some sort of a bitcoin debit card. Maybe a mass drive to get 1000 retailers signed up and accepting on a particular day?