Bitcoin Market Update 8/26/2014
Bitcoin 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.