Short Term Update: MtGox sold 1 unit at 113.51$ now flat

As planned i’ve sold  under my reference level at 114$, this market remains weak. I bought at 123.4$ , loss for this trade is 998$, total gross profit so far 13263$, 9 trades profitable out of 15 total trades.

12 thoughts on “Short Term Update: MtGox sold 1 unit at 113.51$ now flat

      1. atinsf

        Are there any books that you can recommend that explain all those fundamentals? I made some profits, but mainly because I was lucky and bought/sold at the right time. Would love to learn more about analysing charts, etc.

      2. Enky

        I recommend to start with all the work of Joe Ross, read all his books as a starting point.

    1. Enky

      It is in a free fall now without buyers,i’ve some support at 90$ but i’m not sure that it will rebounce from there.

      1. bito

        Hi Enky,

        Enjoy your posts and analysis. Regarding the support you saw at $90, this turned out to be accurate (short term). Did you determine this by looking at the depth charts alone, or were there other charts or tables you used?


    1. Enky

      Depends,if you are in for the long term you can hold,i’ve too a large reserve of btcs that i’ve mined in 2010 2011 that i’m not selling. I remind to you and everyone else that is reading that i recommend to dont invest more then 5% of your total wealth in bitcoin.

    2. Seph

      You have to imagine that at some point its going to go back up. Could take a month could take a year (i’m betting on the short long term, with the chinese markets opening up. But don’t listen to me, I dont know wtf I’m doing). The gamble is, will you make more money by cutting your losses now and reinvesting, or holding for the long term until it goes back up.
      No matter what, it will eventually go back up. There is a finite amount of btc and an infinite number of people.
      Time is the factor here.

      1. atinsf

        There’s also an infinite number of potential crypto currencies. If you wait long enough maybe people will suddenly switch to Bitcoin2 for whatever reason.

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