ItisCalvin

Skipping Stone MACDs and Long Term Downward Trends

BITSTAMP:BTCUSD   Bitcoin / Dollar
For the moment it looks like there is some bouncing between a small range.

ATR has shown some support but hasn't been increasing up with all of these up movements. For now it seems to be dying on the down moves, but more time is needed.

DC has been showing that there is an upward trend that has been forming as it has been in OVERBOUGHT territory for some time. Need to wait for it to break below 20 SMA to verify some downward movement otherwise it could be a fakeout.

For now
Bull Target: 520.25
Bear Target: 481

Extreme Bull: 530
Extreme Bear: 470

Time Frame: 16 hours at most 1 day.
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