Short Term Update: MtGox Reopens its doors!

This is a fast update after one full week of halted trading activity at MtGox. For who follow my twitter daily range forecast, here a short explanation on how it works. My estimate of the daily range is computed using volatility, i already explained in the past how i do it; if price stays above the midpoint we are in a strong position otherwise under it the price is in a weak position. It is difficult to have a definitive and reliable estimation of volatility at MtGox and generally on all bitcoin exchanges, because they are small and not enough liquid to provide stability in the price action. For the daily range i publish on twitter i compute levels that have more chances of being hit and may provide a guide for your daytrading operativity. You may also interpret a break out of the resistance or support level here indicated as a strong activity of the market in that particular direction.

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One thought on “Short Term Update: MtGox Reopens its doors!

  1. geek88

    I’m Glad that mtgox is back! and with reduced commission fee
    there is the old resistance at 20$ still in place, above it i’ll buy!

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