Just one of many possible scenarios.
Look for a bounce to the 6400 - 6500 region then another big red candle to bring price under the 59650 support.
If current horizontal support at 59650 fails, then a drop to the trendline around 52635 in mid December is plausible.
The blue candles are simply a fractal of the September downtrend we just experienced.
Mt. Gox distribution of more Bitcoins on Nov 20th could be a catalyst for more downside. Futures ETF's to add to downside pressure.
Look for a bounce to the 6400 - 6500 region then another big red candle to bring price under the 59650 support.
If current horizontal support at 59650 fails, then a drop to the trendline around 52635 in mid December is plausible.
The blue candles are simply a fractal of the September downtrend we just experienced.
Mt. Gox distribution of more Bitcoins on Nov 20th could be a catalyst for more downside. Futures ETF's to add to downside pressure.