Quote from: BitcoinNewsMagazine on June 02, 2015, 05:25:05 PM

Quote from: realdos on June 02, 2015, 03:38:29 PM

Quote from: masterluc on June 02, 2015, 04:04:16 AM

200 (weekly lower bb). then 100 on break down.

If the price does reach to the $100 area, is the prediction that the correction is to be complete and bounce is followed still valid? (namely $100s is the bottom)

DanV at TradingView feels that a drop to $100 area would finally complete an EW eight wave cycle. This completion could set the stage for a new bull rally next year.

I tend to agree. Momentum on the weekly has clearly fallen considerably over the past 6-12 months. But it seems we have another capitulation looming. Losing $230s is super bearish IMO. So many longs were accumulated there.