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Title: [2014-08-28] Bitcoin Price Analysis – Hints of a New Uptrend Still Dubious Post by: ganabb on August 28, 2014, 02:40:53 AM http://www.cryptocoinsnews.com/news/bitcoin-price-analysis-hints-of-a-new-uptrend-still-dubious/2014/08/27
Since reversing from its low at $442 (Bitstamp) price has climbed above, and maintained, a mean price above $500. Even so, price action to the upside has been limp, and volume of trade has been lower than similar junctures in the past. Overall it would appear that downside is incomplete with the decline still being able to punch lower. The chart below shows Fibonacci extensions of wave a reaching all the way down to $160. |