So, Bitcoin did not manage to hold support at 3400. But the good news is that we are really close to the old top at 2980 (Bitstamp Exchange) so once we get there we will probably get a bounce up. However, I do believe that we would have to bottom around 2900 or perhaps 2800 in order to make a solid foundation.
Here is the daily chart:
Comment: The black horizontal line is the old top from June and right now Bitcoin is at 3070 so that is only another 90 dollars.
On its way back to $400
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hope you're right... want me some more cheap coin..
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I assume that every new announcement of a chinese exchange will result in further sinking. Not all of them have announced their trading stop yet. So 2900 will not be the end...
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