This Downtrend Ain’t Ova
My best guess, in vignette form:
Hard bounce at 400,
slow grind against falling moving averages,
possibly another, softer bounce at 400,
possibly not,
break 400, hard bounce at 380,
slow grind against falling moving averages,
break 380, plummet to 320,
soft bounce,
plummet to 285, quickly rally back to 450,
slow grind against falling moving averages.
Bounce around in the 300s until there are enough tests of the q1 ‘13 high, now support, with layers of intermediate support manifested by a series of higher lows.
Rally back to 550, begin a month of consolidation.
That’s my best guess for this process working out through May, assuming the People’s Bank of China is really forcing crypto-exchange accounts closed.
