Bitcoin 9/9/2014 midday update, bullish channel
Posted by ibankbitcoins on Tuesday, 9 September 2014We are in a bullish channel, lots of large buy/sell orders lately. More choppyness ahead.
channel
Bitcoin Market Update 8/27/2014
Posted by ibankbitcoins on Wednesday, 27 August 2014We've retested the breakout line of head and shoulders and broke above the upper channel. Market rapidly sold off to lower levels. To argue for the bull's case, we need to hold above 510 or 3150; creating sort of a cup and handle type pattern for the next push up.
Bitcoin Market Update 8/26/2014
Posted by ibankbitcoins on Tuesday, 26 August 2014Bitcoin Market Update:
Nothing much has changed since 2 days ago, we are range bound between 520-495. While that is a big range, the volatility from recent bear trend decreased. Overall volume is still above average, but lower.
Since we are consolidating now, we can assume that traders have accepted this price level; they deem this level as "fair market value" for the time being. If not, we would have a reversal or more sell-off. While I cannot predict when or which direction is next move, the likely hood of it going down is higher since we are in a bear trend.