Market should have declined between the 6th and 7th, however an influx of good news kept the price stable with speculators rushing in i.e. China news, Coinbase funding, Bill Gate's endorsement.... However news is news, and the fact that news this good cannot cause the price to breakout is a bad sign.
Bad sign? I'd say it's a good sign. It was all good news but it wasn't REALLY GOOD news, and there was plenty of bad news (lawsuit, exchanges continuing to suck, etc) to go along with it.
The problem is, people who became involved a few months ago are used to HUGE SPIKES on every bit of good news. So when you see good news and no huge spike, it looks bad, right? But it could also mean the market is maturing and we are collectively hesitant to panic-buy on good news just because. Also, media saturation, desensitization, etc. Good news is old news.
This guy's picture is doofy but he makes an astute observation:
The price movement totally disregarded the news for a month. Just saying...
Bitcoin users wising up due to media saturation and decreased appetite for HUGE spikes and crashes? Or bearish indicator? I say the former. People aren't pouring money in every time there is a Forbes/WSJ article or some rich guy talks about bitcoin for 30 seconds.