Short Term Quick Update

Eighty dollars, my dear followers, is the key support. It has been violated for 20 minutes at MtGox at 2 GMT time, down to 65$, then quickly recovered up to 140$ minutes before the programmed two hours trading alt.  Now MtGox is under a severe DDOS attack and trading activity is intermittent but price is holding above 80$. Problem is if it starts to drift lower 80$ it might get enough momentum to break 65$, other exchanges have traded down to 50$ before rebouncing, for now the situation remains fragile and volatile as well.

As long i don’t see prices under 50$ with a strong negative net volume activity i’m not going to close my long term trade opened last december at 13$, i’m still bullish for long term.

UPDATE: 80$ broken, volume activity is very high, i think it’s a record more then 385,000 bitcoins traded at mtgox last 24h, and 650,000 overall considering mtgox,bitfloor,btc-e and bitstamp. 50$ is my next level, i can’t be more accurate because i’m in trouble with sierrachart plugin for bitcoincharts, i’m without charts at the moment.


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