Just a quick one really to show updated chart from my last Crystal Ball post, as per usual looking at Bitstamp market price.
I have same lines of support and resistance shown as last time. Very clear that price is following that resistance trend downwards at the moment. In last day or so have fallen about 4% and below my first horizontal support which was just above $600.
Next horizontal support looks to me to be around $520 price level.
Nothing really changed from my previous analysis in which I stated about a month and half of further down trend is possible, which indeed seems to be the way its going just now. I still think new highs by July is possible but obviously can’t promise anything. This isn’t trading advice.
Thats all for now.