This could possibly be our direction. I think some longs will break through this resistance and hover outside but ultimately, unless great news like Gemini and ETF/COIN, we will proceed to $230.
We may continue downward moving here. From our recent high on 02/15/2015 of $267.00 we may be re-tracing back to $230-$227 on a 15% hit. Don't see enough Bulls coming in to help the situation here.
I believe we are seeing the breakout of Bitcoin here and clearly could be in the making of History. This could be like the breakout we had back in 2013 (inverted cone) after we stayed consistent until the massive run to $1200. Don't know if we will have a massive run (would be awesome/but need to stay level headed) but we will be in new bull territory. If we can...
Ok. Bitcoin going lower possibly into the $200 area. The lower the better for people who thought bitcoin too expensive. Now we'll see how cheap they are.
Negative funnel with possible breakout (actually will break out)