is a great indicator to see where the trends reverse. Often it will either peak or bottom and generally head the direction of the trend. During the balanced market phase was just going around 50 (black line) signaling how we were in general going sideways with neither bears nor bulls winning. Looks like we have now fallen, but are slowing the current bear trend. The length of the downs has been getting shorter, meaning there is a possible STOP to the trend that may have a reversal. Yet, is signaling that we may have more movements down yet to come. That would mean going below this month's all-time low.
* DC – As the price is underneath the midline it reinforces that we are stuck in a bear trend. If we can get up and stay above that line a bull trend may be in effect. I'm watching to see if it breaks.
* – Overall the only time it went into overbought mode was when we saw that rally back in May. Remaining below that and staying under 50 for most of the time tells me that the bears still hold this market in their paws.
Bull Target: $422
If you haven't seen it then you should take a look at ibankbitcoins' chart showing a . It is dead on so far. Take that BearV lol. I had the same sort of bull inclination, but nowhere near the accuracy of ibankbitcoins. Congratz on a worthy chart. It is linked in the related ideas below.
I talk a little bit more on PayPal news on my recent blog post: http://www.allbitcointa.cu.cc/2014/09/paypal-and-bitcoin-become-even-closer.html