GMT20140626 14:56 Trend Analysis of Democurrency

Bitcoin:

There is a strong support at the price $550. But wave of buying is not active. The price moves around at $580 .

The FBI Bitcoin auction will come in 1 days later. And the price will jump and rise after that. If there is a wave of buying in a volume of 28000 coins, the price will go up to $650.

Auction is just a battle of two parties. The left are just audience. None bidders wanna wholebuy low and resell high, because the market may dive after the auction. Bidders in the auction are those who really hope to buy and hold Bitcoin, either they expect to buy Bitcoin at a low price there, or they don’t hope push price high when they buy at market. The real buyer just attend the Auction secretly and at a very low profile. They will very happy to win the auction even at current market price.

Altcoin:

Altcoin Index 1 is 5.99, down 2%. Altcoin Index 2 is 2.38, up 0.5%.

LTC is going down greatly, PPC dives, other altcoins are relatively stable.