ALWAYS BET ON BLACK - Update 22THE GOOD NEWS WE BROKE THE DOWNTREND - THE BAD NEWS UPTREND LOSING STEAMThe market has managed to break out of the down trend that has trapped the price by pushy sellers for a long-losing week. The break out was done with 849 BTC, followed by a short consolidation and subsequent second attempt which totaled 819 BTC. These are good numbers and in the process the buyers have taken out some of those PESKY sellers!In the Bitcoinwisdom chart we see how the market finally broke out of this trend, forming a new high. Then it was stalled, and attempted again while breaking the previous high of 38.06K to reach a new high of 38.36K. A market double top has formed which becomes cautionary. Additionally we see that MACD is trending downward since the first strong push to the upside, again this is showing some weakness and a new attempt to break the 38K barrier is not going to happen any time soon. Finally the price has bounced off the down trend fan support line. if we break below this line we could be heading lower for further consolidation before any attempts to the new highs are made.And again some of the details with at a close up! Note that although the MACD is trending negative, this is somewhat expected after the previous run. Look for MACD trend changes for buying opportunities!Buy-BlackThe following two tabs change content below.BioLatest PostsBuy-BlackLatest posts by Buy-Black (see all) ALWAYS BET ON BLACK - Update 33 - May 25, 2014 ALWAYS BET ON BLACK - Update 32 - May 24, 2014 ALWAYS BET ON BLACK - Update 31 - May 16, 2014 April 27, 2014 by Buy-Black 1 comment 1993 viewson Technical Analysis by buy-blackShare this post Facebook Twitter Google plus Pinterest Linkedin Mail this article Print this article
ALWAYS BET ON BLACK - Update 24 April 27, 2014 1 comment 2280 viewsSELLER PUSHING THE MARKET DOWN WITH MANY SELLING WALLS - MARKET MANIPULATION? We all ...
Is Black Coin Ready to Pop? April 18, 2014 Comments are off 3353 viewsARE YOU PANIC SELLING?? STOP FOR A SECOND AND READ THIS. I am posting this ...
ALWAYS BET ON BLACK - Update 18 April 25, 2014 Comments are off 2769 viewsMOMENTUM INDICATORS TRENDING POSITIVE 30 MIN CHARTS This time we will use MACD indicators to ...
