Long Term Update: MtGox

The BTC/USD bounced nicely from recent low at 11$, it is breaking the long discending trendline i’ve drawn. Personally i wouldn’t open a long term trade only on a temporary break out of a descending trendline; despite the good volume seen during the current bounce i’ll prefer to wait before abandoning my first scenario of an important test of the 9$ long term support;  in any case if i see strength above 16.75$ i’ll evaluate a buy on a break out of a strong level i compute as usual.

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