August: Bull, flat or bear ???

[beetcoin]

i'm a little bit bearish now. even with the acceptance of newegg and dell, the price hasn't gone up. so we know retailer adoption is nice for bitcoin's future and stability, but in the short term it doesn't appear to do much.

[CoinsCoinsEverywhere]

Given the recent break of the 610-615 support and gradual downtrend since the beginning of July, coupled with all the resistance above 650, I think we're going to start out August in bear territory.  If it can find support around 550 or so, August could end on a bullish note.  The Global Advisors Bitcoin Investment (GABI) Fund is also supposed to start trading soon, so if enough money comes in through that, we could get a nice rise.