LastBattle

short team reversal confirmation: bullish

BTCE:BTCUSD   Bitcoin / Dollar
With today's announcement of DigitalBTC's listing on Australia Stock Exchange, the price is heading north once again. We've finally broken through the falling wedge since 12th June. ( RSI , VI, MCAD, Elliot Wave 4, indicators are seemly positive and oversold)
http://www.coindesk.com/digitalbtc-makes-history-australian-stock-market-debut/

For short term, we should see price heading closer towards $600 once again. One thing for sure, the bulls have defended the $540 support strongly and it'll serve as a good line of support.
However be cautious against further decline with the sale of 26k Bitcoins by the FBI as the bears will definitely recycles that piece of news days thereafter. Given the fact that the actual date of sale will be on 26-27th June.

I am putting the bet on the fact that we'll head to $540 before the next rally. Be safe, no one can ever accurately predict the future movement other than short term where the market is heading.
In the meantime, always trade with stop-loss and take profit :)
LastBattle
2 years ago
snapshot


Update: 6/18/2014
Possible head and shoulder in the making. 1h, 2h, and 4h RSI all suggest further decline from here.
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