It was a nice time up here. And I was very bullish. But Bitcoin needs more buyers. We needed to break above $454 again, but it appears less likely now, therefore I'm bearish.
Volume is negative. I now expect the price to fall down due to missing bull power.
14:55 UTC
Thursday, November 27, 2014, week 48
Current price: $372
The market trend could not be more undecided sideways as you can see looking at the red and green DEMA moving average prices going horizontal:
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14:16 UTC
Wednesday, November 26, 2014
Current price: $373
For some magic reason the last rally stopped at $395.11 right at the top of my several month old 8/1 Gann fan line from August 2014:
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Actually it was a very very old historic Fibonacci retracement where the price stopped going up:
ChartArt
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To be even more precise the red line was a Fibonacci retracement of a trend move from $670 to $565
ChartArt
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01:15 UTC
Monday, November 24, 2014
Current price: $380
The price went up, but created a new resistance at $389.99 on Bitstamp.
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03:20 UTC
Sunday, November 23, 2014
Current price: $357 (again!!!)
The volume is almost dead and therefore signaling a big move is coming. It could up or down, but I'm now more convinced that BTC goes down the upcoming days and therefore possibly invalidating my bullish hope tradingview.com/v/LdUAOKwO/
ChartArt
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19:27 UTC
Friday, November 21, 2014
Current price: $357 (again)
It's hard to say if this was the bottom or a dead cat bounce. Looks more like a dead cat bounce so far today:
Thursday, November 27, 2014, week 48
Current price: $372
The market trend could not be more undecided sideways as you can see looking at the red and green DEMA moving average prices going horizontal: