Bitcoin market update 9-02-2014; bear flag
Bitcoin prices for the last 2 days have been constrained within a bear flag. If you are not familiar with the flag formation, check out the flag guide. At this point, there is nothing to do but wait for the next breakout. As you know, bear flag is a continuation pattern, kind of like a pause in the market before continuing the trend. Target is 440 on the usd or 2800cny, the previous low.
I would like to do a longer post, but the market price action has nothing interesting to say. On the other hand, people are raving about the jennifer lawrence bitcoin indicator, wildly amusing.