Here are more accurate figures from the ones I am looking at:
1) On BitFinex: There are 2372 BTCs placed to be sold at $470-$475, so no way up here
2) On BitStamp: There are 2529 BTCs placed to be sold at $482-$485, so no way up here neither
3) On BTC-e: There are 198 BTCs placed to be sold at $441, given the usual volume of BTC-e, no way up here neither.
4) Kraken and BTC-China: Nothing out of the ordinary there
So, from the above, BTC is intentionally being pushed down, and frankly it's not that enjoyable to deal anymore.
I'd still wait for few months hoping this game ends soon.
Regards
Heider
That's going to take a lot of buying power to cut through over it. We may indeed have to wait for a few months or some kind of major good news to break out at this point.