BTC/USD is looking a bit bearish at the moment. $470 proved to be resistance once again and has made a lower high at $466 on the daily chart. My concern is the break below this blue dashed line could be a sign of selling to come. The volume is also not matching that of a true breakout from the $420 area.
The DMI has been showing lower highs on the weekly (a sign...
Current indication is that the new major trend is up. My suspicion is a lot of people are seeing the very long term dashed blue trendline as a significant support line. This looks reasonable to me as well as it has much more significance than the newly dashed red trendline, which has been breached on Bitstamp.
The ADX is also at a historic low point, which...
