• PSAR – The first buy signal since almost half a month ago was given! This may signal the beginning of something good.
• – Nothing yet on if this indicator will decide to give us a buy signal. I had hoped for one, but basically it is saying we would need to go higher for a better chance of positive rate markets.
• StochRSI – I can see that this time it may actually go barely into the OVERBOUGHT area. May curve down just before then, but that would at least mean we would go up quicker than just a slow 5 point move.
Bull Target: $625
The whole TA is on my blog among other stuff... http://www.allbitcointa.cu.cc/2014/08/ar...
"I've been a believer since 2 years ago, but I'm starting to think that we won't be seeing another bubble." - From a Redditor.
The question isn't a matter of if it is a matter of when. There always is some type of rally. Even in markets that go down long term.
There is an interesting chart floating around about being close to the trend line that has been there since the beginning of time.
We are pressing right up just like we had in 2013.
Another make or break moment.
Unfortunately for news movement, I don't see the news of any big companies saying they will take BTC now, that will move the price of BTC more than 3-5% positive. But I do see many potentials for legislation to decimate the price.
It's hard to calculate actual support... since we do know someone is heavily vested in the lower $600's. You have to presume a lot of purchase action at above $600 when BTC was peaking in November (I see a lot of buy volume there) that might still be a held position, good for buoying price.
But the strong support area is $430. I feel like any number of bad news items could drop us back to that price.
There are many indicators showing that we are currently in a bad situation in the long-term. But if we get out of that downtrend and find a bottom soon, then the next price rise might be very strong. But I don't think we get out of the downtrend until Oktober, November or December.