Price at Btc-e printed $3.52 | 4HR time interval
Negative pressure has been evident throughout the night leading price to test the $3.55 area.
With regards to the latest report most short positions have been closed. Keeping only a small portion with break-even stop @ $3.75.
***On the 4 hour time interval, if by any chance the low at $3.55 is taken out, possibilities will increase to test the Lower 200MA BB currently @ $3.46.
Possible Outcomes: No trade setups at this moment.
Updated Technical Analysis will follow soon.