Notice the red rectangle or cloud on top of each resistance and notice how they all end up with a big dump of $90 or $60-50. Their is a strong possibility that we will see the same scenario in our current situation unless of course a whale decides to push us up. But I am still sticking with my plan for now with buys at 545-550 and another somewhere at 500-522
Update 2: today we crawled up to 619 and encountered lots of resistance even with buys of 100BTCs trying to buy there way upwards encountered huge resistance = At this point it is a good confirmation we are NOT going up.
Thats what happened where we were at 670-680s spent few days there crawling our away to the resistance and past it then crashed down 54$ to 620.
I find this VERY interesting, why? well say we stay at 606-620 range another day or two trying to break up and we failed, then seeing what happened at 680 we can very well crash badly down to $556 = $610 - $54 so we land right at $556 or 550+- interesting pattern isn't it?
While I do not agree there are a few things to take into account with all this. Another fall would lead to some serious test of the trend. If you have been looking at the price over 20 min updates rather than live you can better see the trend going up. I feel... I feel something coming. Now to see what will happen next. Slow and steady at first than fast and all at once.
kakola
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Nice red line there.
GuyMoore
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i may have to agree. especially with the sell off of the silkroad coins coming late this month.