Short Term Update: MtGox sold 1 unit at 4.92$

After the recent drop under 5.3$ i decided to close this short term trade and take a break. This is the fifth consecutive week with negative net volume (outflow of money from the market) and this starts to worry me a bit. As i said in one of my previous post i did a mistake not selling at the first bounce after the first drop to 4.6$, at that time the BTC/USD was at ~6.4$. The BTC/USD might bounce to 5.4$ before resuming the drop.

I bought at 3.22$ 3 months ago, profit for this trade is ~170$, total profit so far 2600$, 7 trades profitable out of 11 total trades.

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3 thoughts on “Short Term Update: MtGox sold 1 unit at 4.92$

  1. geek88

    Nice trade Enky, i remember you spoke about a first important target at 7$ when bitcoin was at 3-4$, well it didn’t pass through. I think that a correction is imminent, maybe to 3$.

  2. adsense

    It’s totally bearish fundamentally. I often forget the reality of where we are heading.
    Top at 7, now under 5$ after weeks of price stalling out in sideways distribution, very bearish

  3. bobo

    Congrat Enky, 4.3$ now, after all a nice trade, thanks for your efforts to keep us updated about bitcoin, i appreciate it.

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