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, also people are also still in disbelief that the bitcoin price is actually recovering..They are thinking that the price will crash any minute and this uptrend is just a trap they are still testin more the market if it has actually become stable. Once we break this 9k barrier im expecting a boost in price because people will then realize that bitcoin is gaining a momentum to shoot maybe higher than last year's 20k!