If BTCBRL is in any way a proxy to BTCUSD, we are seeing a correction that may set BTC value back to $4500 values, considering USDBTC ~ 3,15. The pattern is very similar to what happened 45 days ago. By that time, it was FUD, this time, it is probably the hardfork.
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45 days ago, BTCBRL had a spread of nearly 20% over BTCUSD. So it is safe to assume that this new correction will be smoother and will have lower impact on current price level.
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4H BITSTAMP:BTCUSD indicates that the correction may have reached its bottom. As everything bitcoin, nothing is certain.
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BTCBRL Trend
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about BTCBRL