Thursday, July 3, 2014

BTC Market update 7/3/14 Short Term Bear mode

Hello all. Sorry I have not been posting as frequently as I have in the past. I have been busy with non-crypto things. I did want to let me readers know about my most recent Bitcoin market prediction.  I predict the price will fall within the next few days down to the yellow target area (620-610) After a lot of buy pressure and a run from 560 to 660, this market looks like it is temporarily out of steam. Double top on the 660 which is a previous place resistance. MACD is still falling. RSI and Willy 21/13 MA is also falling. Additional with the 3-day weekend in USA about to happen I doubt we will see more fiat in the exchanges until Mon or Tuesday. Red arrow is my prediction, but I would not be too surprised to see the market fall down to 600 or 580 either (noted by the dotted red arrows). It would just take a large sell, or some bad news.

As always I recommended people trade on Bitfinex where you can trade Bitcoin and Litecoin with leverage, and now you can trade Darkcoin as well! Also if you are not into actively trading you can lend cryptos or USD to traders with excellent interest rates. Use my referral code (cgSjVGkGHV) for a discount on trading fees for your first month!  

 Short Term Bear Mode

P.S. Cryptsy just opened up a new USD trading function. Now you can trade USD for cryptocurrencies on one of the highest traffic cryptocurency exchanges. 

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