This is the view I’ve been focusing on

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This is the view I’ve been focusing on lately, the one month log chart which shows a down trend originating from the price peak in early April.

Personally I see no reason yet to think these trendlines are invalid. Unless the price manages to move above $130 (which I doubt will happen) then I think the downtrend is still dominant.

By the looks of it we are quite near the top of the range just now, I expect price will touch resistance and then another decline. We could see prices go as low as $70 or even $60 by the time we get there.

Perhaps this is a time to sell bitcoins expecting to buy back cheaper later.

Incidentally I’ve been a bit distracted recently and didn’t find out the cause of the forums being down, however they are back to normal now as far as I know.

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