Bitcoin (BCT):Nov 28 2014

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BTC nov 28 CSN

Far too many signs pointed to this sell off, and they were noted in the charts leading up to today. People spending BTC on Black Friday means retailers will sell off, well…other than Overstock.com and a few others. However, the next FBI BTC auction is about a week away. One would expect higher prices near the auction for price, and lower prices on Black Friday due to retailers converting to fiat.

The chart above shows all major support & trendlines outside of indicated FIB Levels. About 12hrs ago, shortly after the 4H open and closed under major support there was just over 10:1 longs vs shorts on Bitfinex. Those positions had to get shaken out.

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