Bitcoin Price Technical Analysis for 10/8/2015 - An Expected Decline
In the previous Bitcoin price technical analysis Go Short Now!, it was explicitly stated that the current action in Bitcoin would lead to a big decline in Bitcoin and that short positions should be created. As can be seen, Bitcoin did crash down to $260, slightly above my target of $257 over the weekend. Bitcoin is currently trading down 4.34 percent at $265.06. But, the big question now is: What to do? Should we stay short or should we book profits? As the technical indicators approach oversold levels, it's best to practice a bit of caution. Read on below the latest technical indications....
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