ItisCalvin

Going Sideways Likely - The Next 24hrs are Going to Be Critical!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Title is sort of a joke since you see that all the time in the Bitcoin             community. lol

So the waves were in play this whole time. I figured there would be some much quicker movements for the last C wave but this one took me by surprise.

Now onto the TA... So I have seen this many times in my years (lol not really years) trading and this has a near 95% chance of resulting in some downward movements followed by some sideways action. What I see for the bears is that retracements always happen to some extent after such a big break. Now it remains to be seen how far down we'll go. I'm assuming somewhere in the range of 490 to 481.50.
MACD looks like it will get close and cross but may just barely go under before crossing again.

Little more worried that ATR hasn't peak yet even though we are peaked at the price. Semi troubling sign if it were actually increasing at a steady rate up. For now it appears to just be flat-lining and possibly reverse soon.

Now there is more on my blog @
http://www.allbitcointa.cu.cc/2014/05/lets-retrace-and-go-sideways.html
Well now we are SUPER Overbought, if that is even a thing, so we will see how this pays out. Broke out much earlier than expected but oh well. I was still holding so I had faith.
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