[2014-08-04] Bitcoin Outlook- August 4, 2014

[epere]

http://www.dailyforex.com/forex-technical-analysis/2014/08/Bitcoin-Outlook-August-4-2014/33487

Bitcoin looks set to mark the third consecutive weekly loss. During the course of the week, the digital currency took support from the fundamental and technical support region of 540-550 and bounced from the oversold level of 555.90 to a high of 607.20. BTC/USD has since then fatigued and slipped sharply from the near-resistance levels to a current value of $581.21. It must be noted that the digital currency rose sharply on the news of the controversial Argentina debt default but has calmed down post the event. Bitcoin is now equidistant from the major resistance and major support levels of 610 and 550 respectively.

[Kprawn]

Everyone have been asking for a less volatile currency, and now we seems to have it. 

Investors and I want a steady gradual increase, with small dips, now and again. And we have been experiencing that, to a degree.

If the downward trend continue, it is bad.