Bitcoin finally made a breakout yesterday, but unfortunately to the down side. I was hoping it will go up, but seems like the Bear are still in control. ☹

But I should have known better after Tone Vays and Haejin Lee warned us that the charts are indicating $7500 target. I think it was me being in denial and hoping it will not happen. They themselves say they cannot say 100% that it WILL happen.

We went all the way down to $9566 on Bitstamp and we had a over sold bounce to $10215. Did the daytraders profit from that bounce? I hope so. 😊

The new support is now at $9566 on Bitstamp. We need higher lows and higher highs to get over the bears. Will it happen, or will the bears come out again for lower lows?

To get a clear view on the short term charts have a look at The Chart Guys video below:

https://www.youtube.com/watch?v=KfdzvoHTbAQ


Here is the analyst of Heajin Lee for a more longer term view of Bitcoin and it looks like we might be going lower:

https://www.youtube.com/watch?v=Xg-GCqg9co4



What do you think of the current bitcoin prices? How low can we go? $7500?

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I am a successful bitcoin cloud miner and affiliate of Genesis Mining and USI Tech. I have been mining for the last 19 months. I highly recommend Genesis Mining and USI Tech to earn bitcoin and make money online. I believe it is more important to earn income than hold assets. That is why I recommend mining crypto and blogging on Steemit.