Bitcoin’s Decline

Bitcoin has been in a down trending retreat for some time now.

Bitcoin2The long-term chart for Bitcoin above shows that the down trending price pressure has been relentless and consistent in it’s retreat from the highs.

Lately, there have been some additional, shorter-term signals indicating further declines ahead.

Bitcoin

CLICK CHART TO ENLARGE

Particularly May 25th and on May 30th. After the May 30th price support (both support points are shown by the golden colored horizontal bars) was broken, the slide in price accelerated lower.

Together with the long-term outlook and the short-term trend, the present prognosis for Bitcoin is for lower prices to continue. – George

 

  • June 1, 2015