johnrfraser
Short

Not a good time for a downtrend

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
124 0 1
Yet another failure on this overhead line.
Another uncertain 24hrs (or indeed, just a dip below 610) and the PSAR flips, kicking off a downtrend.
MFI nosediving(and RSI ...4xForecaster asking me what I'm using has made me question myself so I'm looking at RSI too).
1000s of BTC             worth of people NOT trading...where are they going to buy in?
I definitely don't fancy 610. Not a lot of faith in 600 as there's clearly not a lot of way to go up from there. I have a bid at 565 but I don't really trust that either :-/
PS the green lines are a channel and keeps jumping down...the bottom line should clip the tail of the April candle and todays             at about 608-610
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