ALWAYS BET ON BLACK - Update 7STRONG PENNANT CHART FORMING - CONSOLIDATION IN PROGRESS After the sharp price movements from yesterday a typical Pennant Chart is forming. This formation should resolve to the upside to test the 55K resistance when enough volume takes out the panic sellers that formed with the previous violent price movements.See here for an explanation on Pennant Pattern: http://www.investopedia.com/university/charts/charts6.aspClick on image for full size viewHow much volume will be needed to break out? Looking at the three day chars we can see that the previous breakouts of resistance required 400 to 1000 BTC. In the last hour we attempted a break but the volume was not strong enough to get the job done. Our recent attempt had 150 BTC volume. Click on image for full size view Sellers and buyers after the break out attempt have re-aligned but buyers are displaying weakness at 45K, which if attacked could take us back to 40K Click on image for full size viewSome consolidation is required here to rebuild 45K support and to gather enough BTC to go to the next level.Buy-BlackShare this article:The 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
ALWAYS BET ON BLACK - Update 2 April 19, 2014 Comments are off 3405 viewsTESTING 40K SUPPORT The sellers are cashing in at higher prices and as a result ...
ALWAYS BET ON BLACK - Update 1 April 19, 2014 Comments are off 3471 viewsEXCELLENT UPWARD MOMENTUM! As expected the 40K break finally came with a strong push upward ...
ALWAYS BET ON BLACK - Update 32 May 24, 2014 Comments are off 3264 viewsGOOD THINGS COME TO THOSE WHO WAIT.. Sometimes The effects of the original Pump and ...
