High volatility will continue but we still have positive signs!

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
142 1 1
After the sell off experienced yesterday, we still have a weak price and the high volatility continues.
The weekly chart shows a previous over extended trend and a bullish flag formation.
8 out 10 times over extended trends (up/down) tend to fail when it try to build new patterns and in this case the bullish flag was denial the by the sell of that we all experienced yesterday.
The high volatility will continue for some time and counter trends will be the common thing during the next few sessions.
I believe the weekly chart is creating the right conditions for a potential Higher Low and if that happened there is a possibility that the currency will gain what it was lost in previous sessions and eventually will visit the major resistance once again.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out