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LONG | from 140.50$ with half unit (50 btc) bought August 31, 2013
I’m still long since August, 31 2013, giving recent increase in volatility BTC/USD might reach all time top very soon and before the end of the 2013, support is around 190$ for this month but i’ll watch the 150$ level as a potential stop loss, therefore in the worst scenario i’ll close the trade with a small profit.
I think we can expect this rally to continue at least into the winter if not longer, also because the money inflow is strong and positive, especially at BTCchina exchange, i don’t see aggressive selling since “silk road” flash crash thus sellers need higher prices before starting to unload their bitcoins.
If i see a strong move above April 2013 top at 266$ i might decide to bring this short term trade for the long term, eventually increasing its size to 100 bitcoins (buying additional 50 bitcoins at the breakout of 266$).
For this month I think the approximate market price range for Bitstamp can be in the 170$-250$ price zone while for BTCchina 950-1600 CNY, i still think bitcoin could reach 1600 CNY soon in accordance with my previous analysis for that bitcoin exchange.