Explosive move downwards incoming soon.

BTCE:BTCUSD   Bitcoin / Dollar
78 0 2
2 weeks ago was the big pump from 350-550. previous week ranged from 500 to 427. this week has ranged from 450 to 419. the market is compacting. this is a basic law of the markets: expansion and compaction. you can see pretty much always small bodied candles will be followed by a huge body candle.

for the past three weeks the weekly range has been compacting. it has also been making lower lows and lower highs. thats why i made ranges with horizontal lines, to illustrate the range compacting. and also you can see the range is making lower lows lower highs.

450-419 is a very compacted and tight weekly range and something big is about to happen. you can even see the daily candles too are small bodied.

i would be concerned if price broke 450, at 500 i would be full bullish . however i dont really expect even the daily high of 435 to get much action.

fud is coming out of china soon.

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