This chart is inspired by @DrewR , particularly this chart
Is Bitcoin in for another large ~45% drop? Sure looks that way. 300-315 still a key zone to watch, but bears are invigorated with a recent break of a key low, 340. 10/21 EMAs have had a good track record since the November 2013 rally. 1st touch/cross = reversal soon, 2nd cross = reversal. Also Litecoin has broken all post November 2013 lows which may give further indication that Bitcoin is in for a deep dive.
Look at the chart for more comments. If you like, leave a thumbs up. Thank you.
Is Bitcoin in for another large ~45% drop? Sure looks that way. 300-315 still a key zone to watch, but bears are invigorated with a recent break of a key low, 340. 10/21 EMAs have had a good track record since the November 2013 rally. 1st touch/cross = reversal soon, 2nd cross = reversal. Also Litecoin has broken all post November 2013 lows which may give further indication that Bitcoin is in for a deep dive.
Look at the chart for more comments. If you like, leave a thumbs up. Thank you.
