I don't have such sophisticated methods, but previous 2 times we tested the 780 level *Gox* the price took swift downturn. What I see for short-term is that unless the price breaks and holds above 780 then this consolidation period will continue, with perhaps retracement as low as around 610-620? (more likely price will fluctuate above and below that 700 level for some time again.)
Sure a retracement is possible and it very well could turn around right at the SMA. But personally I dont think so. I think we will break it and consequently see a huge push up to somewhere above 900 before it evens out again. Anyway its all short term shenanigans. Long term is what matters.
I very much hope you are right, but please don't discount the importance of these "short term shenanigans". If one is able to pay close attention to these short term fluctuations and act accordingly, there is a great opportunity to increase your holdings much better than just sitting on your coins and waiting. (also much risk of course, but I'm certain that most in this thread are intimately aware of risk assessment.)
*edit* 780 level has now been well and truly pierced, if price can hold for more than just a few hours, then yes, I think "somewhere above 900" is a feasible target. I'm not loading the boat just yet though...
*final edit* price now broke 800, luckily at virtex is still at 755. I'm now loading the boat, and the train is leaving the station, CHOO CHOO!!!
lol
