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Turning bearish again

With the market currently making lower highs and lower lows, the bear trend may not quite be over yet. A break of $200 again is very bearish, and it looks like that will soon be the case. We may face weak support on the way down at the $180-$190 level, but I don't expect this to hold. As of now, I'm watching $200 and waiting to catch a short to $130, which was my original target for the bottom and remains so. The price action at $220 confirms that the gradient of the bear trend is getting steeper and may have yet to reach a climax despite good volume.

Either way, I still expect us to reach $270 again at some point. For now, though, the market does not appear to be cooperating. This will, however, be a great opportunity to pick up cheap coins.

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