Topic: [Flash Report] Bitcoin PosMens & What It Needs To Do - 1/3/14 (Read 608 times)

BitcoinTraderFX

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Bitcoin has continued it's uptrend. You can see in the chart below that it has done the important things so far. One it broke through 850 (a critical number) with strength. Then came normal profit taking (selling), which was followed buy fresh buying (and more importantly) printing a new high.

Once again there is new profit-taking off the new high. So the next step for bitcoin is to push above the 880 number to continue to make new highs. If bitcoin stalls at the 880 number, then it's an indication that the major buyers have been exhausted (used up) temporarily.

Price always needs to rest. Either by pulling back, or by moving sideways. So shortly we'll see if it has enough energy to continue to push new highs.

Bitcoin Forum>Economy>Economics

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