Quote from: fedmahnkassad on May 20, 2014, 04:52:00 PM

I am not worried if it will go up again because I know it will. My only concern is how low could it go so I place my buy orders on the right spots. Any ideas? I am thinking we could see sub 400 prices but probably not below 380.

Unfo, can't find fluttercoin on bitcoinwisdom.com to do some charting. If anybody knows a website that allows me to draw some lines, fibonnaci, RSI etc... I'll be happy to share the info.

Anyways, from what we can see:
- Volume is decreasing day by day, 345 BTC exchanged on MP last 7 days vs 738 BTC exchanged the week before - the more you go to the ATH, the higher the volume exchanged. The lower the volume, the higher the chance of trend reversal.
- Downtrend has not been reversed and is not showing any reversal signs, lower highs and higher lows since the ATH, we're down 80++% since the ATH
- There is a good support line between 400 and 500 satoshis, next level of support is between 250 and 300 satoshis

Now, if we can stick to that 400-500 support line for a couple of days, that may be the stabilization phase and the formation of a rounded bottom, which is a reversal pattern, meaning price is going higher. The next level of resistance is around 600-700 satoshis, that will be an important line that we will need to break in order to confirm the uptrend. On the other side, if we break the current support line, we could go down to 250-300 satoshis pretty fast.

Let's see what happens in the next days.