Long Term Update: Weekly Chart MtGox

So far BTC/USD failed to go through 3.8$ but at least the weekly moving average is stabilizing after a fall of 4 months, since June. What doest it mean? well that at least prices are stabilizing in the 2.5$-3.5$ zone.  For now i think that the 2$ level should work for this month as support, resistance slightly under 4$.

The oscillator of course is still oversold, once it will cross the buy thresold and prices are above 4$ i’ll evaluate to open a long position or not.

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4 thoughts on “Long Term Update: Weekly Chart MtGox

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    The market remains easier to rally than it is to sell-off and it seems like the pain trade remains to the upside

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