Short Term Update: MtGox 4h chart

BTC/USD failed to breakout above 12$ and if it is going to stay above 10.50$ then a new attempt  to attack the 12$ resistance is possible.
The inverse fisher Rsi oscillator is still overbought and so the short term rally is still intact.

About the NY conference, i think there will be a time lag of  2-3 weeks before some effect on prices show up. It was a good event and the presenters did a great job, we need many conferences like this in the upcoming months if we want to see a bullish autumn.

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5 thoughts on “Short Term Update: MtGox 4h chart

  1. adsense

    The conference isn’t going to affect prices in the short term, it is good for long term development of bitcoin.
    Thanks for the update, i’m watching carefully the 10.50$ level.

  2. bitcoinBull

    The resistance at $10 is very strong and has been for a while, so unless those bids disappear I’d expect upwards movement sooner or later.

    Volume has been eerily low.. the later we hover the more I’ll worry. When the volume picks up, maybe a small dip and a (big) bounce? There’s so much USD on the books I’d be surprised by a plunge.

    1. Enky

      People lose interest if nothing happen, probably the bid’s will disappear with the pass of time.
      no one want to buy over 12$ and sell under 10.50 10, it’s a stale for now. btc/usd could also quickly dip at 9.50 to recharge itself before resuming this short term rally

  3. mickeyone

    I follow you also on twitter channel, nice call today we are dropping under 10$ as you thought

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