http://cointelegraph.com/news/112335/bitcoin-analysis-week-of-aug-24-intro-to-trendA new range has been established between US$440 and US$500. Allow some time for the markets to settle down and dictate the next move. The long term chart is still considered healthy as long as we remain above this US$440 mark, but in case it give way, look for US$340-360 range as the next line of technical defense. Just like it was said a few days ago, unless faith in bitcoin is being lost, nothing should go straight down so this oversold condition is due for a bonce even if just temporary, but we have lowered this expectation to US$500 before re-evaluating the situation.
