Commodities and commodity proxies have been getting smashed of late while Bitcoin has tried to remain within the upper end of its massive 2015 trading range. A initial breach and now an acceptance below the lows of the middle of the range ($210''ish) implies the market wants/needs to explore the lower half of the range below $200/coin. Fib extension levels will lead my expectations going forward with a target window somewhere between the golden ratio ($143'ish) and a full blown 200% range extension down to $103'ish. For those late to the party, consider counter trend rallies into resistance (PoC, MA's and indicated red trend line) to set up shorts ....bulls go boooooo.
Gloomy days for capital and capitalism ahead as we fast approach the much anticipated 'fear' cycle peak in Q3'17, strap on your seat belts folks, its gonna be a bumpy ride...
Brian
aka The Rational Investor
Gloomy days for capital and capitalism ahead as we fast approach the much anticipated 'fear' cycle peak in Q3'17, strap on your seat belts folks, its gonna be a bumpy ride...
Brian
aka The Rational Investor