The GoTo Site for all things Bitcoin in Beautiful Vancouver British Columbia Canada

Bitcoin market technical picture

Bitcoin market technical picture

Bitcoin market success this year beats in performance any other asset class .In 2 years bitcoin price rose more than 25 000%In an environment where people are happy if they don’t get negative interest rates on their bank savings accounts.

So I expect that common question between investors and speculators with Bitcoin will be where the correction of exponential rise can find a decent level of support.

Technical picture

I know that the opinion of bitcoin adopters is that this is only the early stage of new world and we will go to the moon.

Still I advise anyone to be prepared on both scenarios all the time and find at least “mental” levels where you would get out into cash, or where to go out if the price continues to rise exponentially.

Many thought and wished support would be around $1000. But today we are hovering around $700-$800 with a low around $560. That is more than 50% correction from the top.


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This entry was posted on December 7, 2013 by and tagged .

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