Mihai_Iacob

Bitcoin- Still no signs of real reversal

Short
BITSTAMP:BTCUSD   Bitcoin
In my last Btc analysis, I said that considering the cup-shaped formation from the past 4 months, the price will most probably fall under support.
Although a rise of 7-8% followed the CPI data from the US, nothing has changed in the overall picture, the trend remains grossly down and the price is pressing in support.
More, the last rise is clearly an anemic dead cat rally and its unsustainability gives us a clear clue that bulls are almost unexistent.
That being said, the outlook remains the same, bearish with high chances of a break of support.
My soft target remains the same at 15k and only sustained buying above 21k would change my outlook

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