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 share your observation however, 24 hours later bitcoin and we are now approaching $9200 again. So the negative divergence you saw was overturn and we are not back on track. Trading volume is above $20 million so the minor dip is over as investors are clawing back and investing again.
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!
I have to disagree with the Mt. Gox influence. So I won't mind if he decided to offload again. We are tired of him trying to pull the price again and I'm sure that everyone knows about him and I'm sure that if even the price goes down because of the Mt. Gox, people are still going to purchase bitcoin once more specially if the price goes down.