ninjabenja
Short

Bearish Trend Continues, looking for retest of low 600's

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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Since February 6th 2014, Price action has continued to encounter severe resistance when attempting to achieve a higher-high, higher close. Despite my eagerness to see prices > 900+ USD/BTC, ( and a bet I made with a friend that BTC would out pace the price of gold by May 1st, 2014) our current down trend persists. Break-out of the symmetric triangle pattern yielded nothing definitive save for the resolution to continue consolidation, however, we've yet to violate the trend channel (pictured in purple) with a close above and anticipation is for a reversal for a re-test of the $580 level or lower.