ChartArt
Short

Short-term selling opportunity below 500 US Dollar

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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--- UPDATE 3:
The price bounced very high at $487 and not as expected at around $450. I'm bullish again.

--- UPDATE 2:
The good news on Friday even with the launch of the first Bitcoin ATM in Manhattan, New York wasn't enough to start a real uptrend. The bears won. This weekend we are going to see if $442 is the bottom for Bitcoin in August.

--- UPDATE 1:
We are getting stable above $500. Here is my new idea for a long entry:
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It seems we test the last bottom at $440 again, before we might finally go up. If we fall below $440 we are doomed to go much lower. Price during creation of the chart was $510.
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UPDATE - 14 days later (September 5th, 2014)
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Interestingly we stayed inside the channel (as marked in the blue rectangle):

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This is a tough spot to take a short. Unless you're chasing heavy volume (which should confirm a larger move), it would be easy to get buffed out here or stuck in chop city.
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ChartArt mfkzt_
I made this chart 3 days ago and I'm not that bearish anymore to suggest a short today. I should have been more specific in my headline - I didn't actually mean a short "below $500" but more precisely a short below $495 - as you can see in my chart where the green area begins. Every correction down to $495 could easily bounce back to $500.

But I still think that if the price falls that a short below $483 could work -- if we fall this low.
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mfkzt_ ChartArt
Shorts should be good but I think it needs to be confirmed by volume above all else.
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yeh saw that we stopped at 525 roadblock again. Without a revisit to 440-460 we will not be able to break 595. We need to satisfy the bears a last time and for a nice W
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I always forget to add the pivot points. Here they are:

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