BTCUSD Neutral position, coming days critical for medium term

25 thg 9, 2014

Bullish breakthrough point comes at the convergence of fib retracement .618 and higher medium term resistance lines. Similarly a bearish rejection point exists at fib retracement .382 & lower medium resistance. Panic buy spike should be ignored and offers little in the way of technical indication. It serves as no more then a lucky break for the opening of some short positions for those who held through the previous plunge. Bearish sentiment remains high, though some key moves yet to be made that will forecast the next few months mentality. Look for rejection signals at 420 & 450.