Nothing new here, it just seems obvious to me that we are heading for another dip. The "dips" are decreasing in size/length, but a dip nonetheless seems destined.
Yep. Question is that with Bitstamp hitting $340 on not terribly high volume, thus breaking the $380-$400 support of the 4 month bearish descending triangle, does $340 prove to be thee bottom or will this level also be taken out?
I expect a lot of buying pressure from 'bottom catchers' as we approach this level again but believe that it will ultimately fall.
You should google for DanV. He is an EW analyst and has been calling the long-term Bitcoin trends like a dream in the face of all the other bullshit projections which have been proven wrong.
Here is a link to a 'session' he held on TradingView:
https://www.youtube.com/watch?v=G8Zuj8xYUpY&list=WLtnzQlSSqfa2NVFIZRwtDOw&index=463 hours long and rambling a bit in places, but compulsory viewing for anyone interested in Bitcoin speculation. The man really is excellent and I wouldn't say that about anyone else.