The Bitcoin Panic Zone - the beginning of the end

4 oct 2014

This the third commentary on the Panic Zone. Please read the other two links first. This is the weekly chart but the 1 day chart shows very clearly a large volume move throught the bottom of the long term trading channel and also slicing down throught the last remnants of Panic Zone support. There is currently no reason to be long in the Bitcoin market. My predictors are pointing to a settling out at the $135 level. There might be some lifetime buy opportunities below $100 in the not too distant future. I will publish the 1 day chart as a follow-up to this commentary.