Signs of accumulation

٨ يوليو ٢٠١٦

The price of bitcoin follows the described scenario for decline around 500.Even though I still expect the down move to resume, the large green engulfing candle is obvious sign of accumulation. I don't believe much in conspiracy theory but I am convinced that some big investors are able to impact the small trends through the info in the media. After the big rise of BTC and the impending halving tomorrow that will make bitcoin scarce the only way for large investors to buy cheap is to shake the small investors. We couldn't know when the bull will arise. It can take days or weeks before the reversal occurs. In such situation the only good strategy to participate is buying every dip the market will give.