We didn't get the volume I was expecting yesterday and hoping for and with the sideways action we couldn't break through the 9400 barrier. We continued to move right and crossed the upward trendline last night causing a dump to the 8920 Support. We are still showing negative divergence so we may see further downside until we get that volume. Our goal is 9160 to get back on track but right now signs are showing further downside with the weak volume.
I think a lot of people are holding due to fear of Mt Gox, or this sell off could be Mt Gox. Either way we need to big buy volume to come in to get the momentum going. Tether Volume is back over 5B
We have Consensus in two weeks!
Yes this is what i think too of why it can not break the 9k barrier. Many were a bit disappointed for not being able to reach their expectations just to even reach 10k price, though I am thinking also that once we break this barrier we will have a continous uptrend of price even reaching 12k before the end of May.