The BTC has been in a down trend for a pretty good time. This descent started from Nov 9-10 and since then BTC has lost half of it's value. In this logarithmic weekly chart we can see what has happened from Aug 2011 . As you see the price is near the bottom of both the red short term yellow channel at about 32 K and the yellow mega channel at about 29-30 K. Anyway, the price will go up sooner or later, but when. With regard to current situation of price, position of indicators and the general sentiment I think it will touch the bottom of red channel in near future. At that time we can think about touching the next bottom or going up.
The BTC has been in a down trend for a pretty good time. This descent started from Nov 9-10 and since then BTC has lost half of it's value. In this logarithmic weekly chart we can see what has happened from Aug 2011 . As you see the price is near the bottom of both the red short term yellow channel at about 32 K and the yellow mega channel at about 29-30 K. Anyway, the price will go up sooner or later, but when. With regard to current situation of price, position of indicators and the general sentiment I think it will touch the bottom of red channel in near future. At that time we can think about touching the next bottom or going up.
