Short Term Update: MtGox & Tradehill

BTC/USD after a 50% retracement to the 9$ support rebounced nicely up to the resistance at 12$. As indicated in the chart i’ve my Alma weekly moving average at 11.93$, in the last six weeks the BTC/USD has never been able to stay above it, thus this average is showing to be a reliable indicator for the long term. A breakout of this average could be the first warning for a long term reverse of the actual downtrend.

Finally, I should like to say a word or two on Tradehill, this exchange was born as a valid alternative to MtGox but so far it failed to meet expectations. Why? well because if you look the daily volume activity it is not growing, always beetween 1000 and 2000 bitcoins exchanged every day on average; numbers never lie.

Mtgox is and will remain the leading exchange for a long time ahead.

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7 thoughts on “Short Term Update: MtGox & Tradehill

  1. Coin-Artist

    TradeHill really blew their big opportunity. They should have spent more time on actual trading features rather than that annoying referral program. Now there’s plenty of small exchanges with more options and Mt. Gox has regained the trust of the community.

  2. marco

    Tradehill is dead, campbx is full of stupid graphics and without liquidity.
    There are no choices, only mtgox is a viable exchange.

    1. it is not an EUR/USD exchange, but a Bitcoin/USD exchange.
      If you send euro they convert them in usd at the EUR/USD rate of the day they receive the money.

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