trendless

Bitcoin price is choppy. Waiting for breakout.

Bitcoin price is choppy, it is best to just sit on your position or wait until a breakout. We have been making higher lows until about yesterday. 

We retested the 220 area like 10 times already and not broken! With each retest, the pullback is minor. That is why I am bullish. If bitcoin makes a lower low on the hourly, I would probably change my mind about the prospect of a bullish move.

Bitcoin Market Update 8/28/2014

Bitcoin Market Update: 

Market was forming a topping pattern on the hourly that I pointed out on tradeview yesterday.

Market is now experiencing downward pressure, but still in consolidation. Price action is choppy and volume is low. Look at the hourly chart from this week, this shit is not tradable. Its difficult if not impossible to profit from this random motion.