BTC volume based analysis

BITFINEX:BTCUSD   Bitcoin / Dollar
Proving the update on mylast chart wrong, it seems BTC will still get lower until it confirms one or both support lines based, at least volume analysis confirms that. The best buy zone is indicated by the red box and the end of the XABCD pattern, which is quite possible to happen in the time frame depicted. However I would not suggest any buying or selling until we see larger day volume which would confirm the price level and move it back up to the $11000 range. Low volume suggests continuation of the downtrend. Blue>green are a bit too optimistic, but still possible. Future strong resistance levels at $12000 and $15000 area.
Kommentar: Target hit. Next stop is $7300, if BTC continues further down. Daily volume can be the judge for that - it's picking up, but we need double the current volume for bitcoin's price to make a considerable move.

Option 1 is consolidation above $9400, option 2 is consolidation below $8300. I think the first one is more probable.
Kommentar: Bought a nice amount @ $7500 :) I think it's likely for BTC to close the day around the 200-day MA ($8500-9000) and remain above $9000 for the weekend. If there is enough volume generated until monday, we could see it wedging between $10k and $11k over the next week, waiting for some news... which is the only thing that could move the price back above $12k (in the $13-15k range). If the volume is low, we'll look at the $10000 price for quite some time.
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