Portfolio Update

LONG TERM
LONG
| from 7.51$/btc with 1 unit (100 btc)

SHORT TERM
LONG |
from 18.20$/btc with 1 unit (100 btc)

I’d like to spent few words about what’s happened so far to my short term trade. The market is drawing an ascending triangle characterized by equal highs and higher lows.  When drawing an ascending triangle, you’ll notice that the top line is fairly flat and the bottom line will be making its way up and to the right.

This is usually considered a bullish signal, but this isn’t always the case. As with the other triangles, once a convergence is made a powerful bullish or bearish trend can occur.

In the next couple of hours we’ll see if it is going to break it above the static resistance at 19$.

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3 thoughts on “Portfolio Update

  1. Mean reversion is a powerful rule on mtgox and it works until it doesn’t.
    We are overbought but it can stay overbought for a bit longer.
    I like the fact that ppl are getting bullish and euphoric. Yet, looking at many past bubbles, I get the sense that there is an urgency to sell before we are going to crash once people realize that this is scam

    1. Maybe try to explain why you consider bitcoin a scam. Perhaps because you consider bticoin not designed to be a functioning currency but just to enrich early adopters?
      I’ve a different view. Once it will reach 21mln bitcoin, it will stabilize and worldwide recognized as the main electronic currency

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