[2014-08-10] Bitcoin Analysis: Week of Aug 10 (Intro to Volume)

[cescan]

http://cointelegraph.com/news/112243/bitcoin-analysis-week-of-aug-10-intro-to-volume

Friday Aug 1st started out as an impressive day yet sold off near the end. As a trader of the Fiat Financial Markets it would have been reasonable to pull the trigger and try and take advantage of the upward momentum, but keep in mind, the medium term trend is still down and the trader should have realized within a few days that the breakout back to US$625 is not imminent.  Let us now take a look at the long-term view and see where we stand.