Short Term Update: MtGox daily chart

This is a short term view of the last 25 days, BTC/USD completed as expected the rebound up to ~11.30$ and this week market kissed again that level without success, i think it will remain under it for the remaining part of this week and probably also the next one.

Price range forecast is 9.70$-11.60$, as you know I think that there are chance to see this market going down to 7$ 8$ but before it has to go under 9.70$ with a strong selling activity. For the time being i stay out from this market, i’ll abandon my bearish view of the market only if i see a strong break out of 11.60$ level.

For this week end i expect to see a modest drop down to 10.5$, eventually 10.2$.


7 thoughts on “Short Term Update: MtGox daily chart

  1. ADsense

    Good call Enky, i’ve sold my bitcoins at 11.2$ and i’ve bought again at 10.4 $$
    i hope to sell again at 11.2$$

    1. I think that under 11.3$ it’s good to stay out from the market, halving block date is coming i’m curious to see the effect

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