Fundamentals: Nothing about the Bitcoin technology has changed, institutional investment continues.
Sentiment: While largely negative, large players' entry targets have hit. Experienced traders are calling a reversal, but BTC/USD performance for 2014 is extremely negative.
Technicals: A convincing Adam & Eve reversal is playing out with price stability above $200/BTC. Trend-line, pitchfork, and fibonacci levels converge at $199.40 which should prop up selling from an apparent bear flag down from $220/BTC. Consisting selling is having little effect on price, with bullish divergence on MACD.
Sentiment: While largely negative, large players' entry targets have hit. Experienced traders are calling a reversal, but BTC/USD performance for 2014 is extremely negative.
Technicals: A convincing Adam & Eve reversal is playing out with price stability above $200/BTC. Trend-line, pitchfork, and fibonacci levels converge at $199.40 which should prop up selling from an apparent bear flag down from $220/BTC. Consisting selling is having little effect on price, with bullish divergence on MACD.