Looks like we could get a retest of $225 soon. There have been a lot of exchange hacks lately and heavy selling (probably from hackers). I'm not a huge fan of shorting mid-range, just showing where it could pop to.
hackers selling on publuc exchanges is overrated.. it probably is not the smartest move to make .. they might sell it over time over different ppl and acounts and mixers.. but probably are putting them aside for a while.. until the heat goes away.. and silently sell them slowly in smaller parts.. then again..btc market and fear.. goes hand in hand.. i'm still bullish.. unless 215 220 realy breaks with confirmation.. but then again.; where will it go? lots of long term buyers are sitting just sub 200 so .. let them sell :) i'll be waiting. then again.. i hope it goes up .. been buying silent for a while now for the last weeks :)
Cryptoelite
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Really enjoy your analysis Chris - please keep up the good work. Personally I would have thought hackers would more likely sell into rallies in order to maximize their profits, which has possibly already occurred...
Personally I have a more bullish view - of 285 and 360 possible targets before we see 225. All just opinions... Please continue to post here :)
doug.hoseck
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Hi Chris,
I think it's going to test $200 'cos of all the negative exchange & regulation news floating around...
and giving the short term triangle a little more of a chance to pull it out. Definitely agree on the exchange scare weighing things down:
Have not put it to a 60 min chart... thanks for the post.
chrisdunntv
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Nice!
frisby
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Yea heavy selling on TOP exchanges from hackers, you are the one! LOL.
chrisdunntv
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Think about it… Hackers who get bitcoin on other exchanges can sell them wherever they want. Also hacking on smaller exchanges creates fear from traders on the bigger exchanges
ToneVays
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If these hackers are smart, which i would assume they probably are, they would be selling on LocalBitcoins to avoid all trails to fiat. Also it is very questionable if any btc was actually stolen as in the case of Mt. Gox (was it really there like they say?)
people moving to a few big exchange might actually create some stability cause it would take more consolidation there by big players on there to move the market (up or down).
I see all these bad exchanges going down as a big positive