Short Term Update: MtGox 30 min chart

In the last 48 hours the usd/btc broke the symmetrical triangle i pointed out in the previous post. It bounced at my forecasted resistance of 15.80$, later the usd/btc has managed to form a descending triangle and break out of it finding again support of my last range estimate around 15.20$.

At this point we are seeing a small ascending triangle developing, in the next couple of hours it will close it and again it will be a test to see if it can reverse to the upside above 15.80$ or it will continue to go down.

 

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