Bitcoin is continuing the downtrend that started in 2014. It has fallen from the heights of 1095 to bellow 300 last week. This week, we saw price respect 300 as resistance as we can see in the 4H chart below: (Bitcoin 4H Chart 1/13; click to enlarge) In the 4H chart we can also see price hold below the 200-, 100-, and 50-period SMAs, while they continue sloping down and in bearish alignment. the RSI held below 60, reflecting its persistent bearish momentum. Price has also cracked last week's low of 260 and looks poised to continue falling.When we turn to the weekly chart, we can see that in these past couple of years, bitcoin has gone through a euphoric rise followed by a burst of the bubble and capitulation. (Bitcoin Weekly Chart; click to enlarge)The weekly chart shows that price will be around the prebubble, but post-market-introduction levels when it approaches 100, which was a common middle price in 2013, after the initial surge.