BTC could go as low as $250 and even $85-$110 is possible. Here is why:
My original chart which I made one month ago had the title: "Bitcoin price doom analysis - Why Bitcoin might crash to $333" tradingview.com/v/4WpZy8cK/
Sadly BTC is falling even faster than anticipated. BTC is now below a two year moving average price (EMA 720 - the red line) which was at $369! Therefore I'm lowering my most bearish target price from $333 to $100. Everything is possible now. But I hope that BTC bounces at $285-$320
P.S. When I published the chart the price was still higher and I originally wrote: "BTC could go as low as $300-$320"
The 3 month ago chart said nothing and wasn't a forecast - so I'm not sure why you would quote it as a forecast?
ChartArt
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You can see in my 3 month old chart that BTC is back in a large downtrend channel since August. This dark blue area. As long as we stay in that area I expect the BTC price to keep on falling.
timwest
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To quote you "This isn't a forecast, it's more of a study".....
ChartArt
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ok, ok
It wasn't a forecast. You are right. My wording is wrong.
timwest
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I don't like "unclear" comments on "unclear charts"
Tuesday, November 18, 2014
Current price $374
Bitcoin is below the 1 year exponential average price and barely above the 2 year exponential average price and still inside this downtrend channel.