Big Run Up. Bigger fall down.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
117 0

Update: 4:23PM Looks like we are still seeing some low volume when going up. May be time for some trend lines and Fibonacci Retracements as it looks like downward trend.

We have just seen a hug run up in price from 570 to about 700. There are many saying that possibly it is just whales trying to push it up. No matter the case here is some TA.

As I was doing this many signals started to confirm at once. I just saw that the MACD has confirmed SELL as with the PSAR shortly thereafter.
BBands got stretched to their limits and this looks like it will be a big bounce back down.
I think the Stoch RSI can continue to remain oversold for the next hours.
Volume does support that the downward trend will last. People who bought before the run up looking to make some quick $.

The chart is changing rather quick and the expiration is set for 3:45PM EST.
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