BitcoinOracle
Short

BTCUSD Encountering Resistance Zone - Possible 3-day Drop

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
452 0 4
Bitcoin is about to encounter the top of a falling channel . A rising wedge is clearly visible on the daily. Time cycles and decreased volume point to a nearing breakout. Selling pressure from profit-taking off the 455 bottom, combined with renewed fears of those who missed the two previous chances to sell in the 900-1000 range, may result in a 3-day downtrend with targets of 550, 360, and 220 after testing support in the 670s.
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