Ok if we breach 78, it will likely resume downtrend for a time, but I think we will not see 78 again.
I hate it when you say "we will not see $xx again" because when you do we ALWAYS see that number again and it usually doesn't take long after you say it.
If you really think so, what a valuable advice! Sell 33% of your bitcoins if the price is above the floor and buy them back when we see it.
If we cross 110, we could see a minirally. But bid depth above 95 is anemic, $2m. When I went to sleep not that long ago, it was $2m above 105.
Bitcoin is wonderful, because it seems that it is always about the right price. It can always go down as well as up, and you can never be sure. Of course, long term it seems to be going up. Only way to trade profitably is to buy low and sell high. It takes skill to know which number is low and which is high.
