ItisCalvin
Long

The Bulls Still Control This Market

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This has been one crazy week to say the least. First we had the fear about Ghash. io was going to reach 51%. After that we saw the news about the SR coins being auctioned off. The latter was the true push the market needed to see us tumble. Even while Ghash. io reached 51% it was not news that I thought pushed us as deep as the new influx of coins going back into circulation.

I talk more about the Silk Road auction and a bit more about 51% news @ http://www.allbitcointa.cu.cc/2014/06/much-fud-as-bitcoin-tumbles.html

For now here is an indicator overview:

Stoch + Stoch RSI – Over the course of this week both remained oversold
Aroon Oscillator – This is a new one that I made to show the difference between Aroon up and down. It is a simple indicator yet one that is useful. It can be tricky to see what Aroon is telling you at a glance. With this indicator you can see the crossovers happen whenever they cross the mid line of 0. With Aroon Oscillator (15) there are some ways to tell for reversals in the trend. Currently we hit above 90 and need to see below -90 to see the reversal into bear territory. We did not see that and Aroon is starting to regain.
• PSAR – This has been getting close to switching over the past few days. Even a small move above 610 would cause it to start switching to BUY.
bear trap was a bear trap
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