I think is poised for another decent
sized pop. After confirming $560's as strong
support, sellers have been holding price below
$650's for a while. This is classic consolidation
with higher lows and lower highs. ANY major
news event could squeeze shorts or cause longs
So, as of right now I'm still long-term but
watching news and breaks of this key consolidation
pattern to determine if we're gonna move towards the
next long targets of $680 - $775, or if we'll get a retest
of $560's first. Either way I think a good trade is coming.
BE PREPARED FOR A POP IN EITHER DIRECTION!
YOU CAN MAKE MONEY ON EMOTION IF YOU'RE
PREPARED AND QUICK ON THE TRIGGER.
I you think I'm missing something important, please let me know.
It was an odd pumpy day today...something going on on Bitstamp...Finex not really playing along.
Is this perhaps some institutional influence on the price?
I noticed a pennant on 4hr chart that we broke out of upwards from on 18 July...the rally failed at 633 and we fell down only to be curiously cushioned by the upward line of the pennant we'd just left.
This is odd isn't it?