I wonder what James' technical analysis of what's currently happening to the price of Btcd
I already posted last night. I said if we broke through .007, that it would go up from there
the price is bouncing off the moving average and instead of a half cycle downwave, we are getting upwave followed by upwave and now the third upwave.
With most of the P+D money going into btsx, this is good as it is slowing down the breakout. As long as everybody keeps saying it cant keep going up and it has to come down, then it will keep going up. When everybody starts saying BTCD to da moon, that is the time to sell a bit to get some BTC on the sidelines for the correction
go to bittrex, look at the 1 week chart's green line.
that line is steadily inclined upward
the usual weekend doldrums where volume goes away and price drops, was instead a slower rise and this is just the weekday money flowing in to catch up with weekend's rise
Like I said a lot of money came in at .006 to .007, will that money be happy with 15% gain?
Be careful though, when that new money decides to cashout, we will see a drop of 20% to 30% pretty quickly, so if you are playing the day trading game and not hodling, just do it with money you can lose, or better yet just do it with funds you dont mind having 25% loss on paper and can hodl through the correction.
Above .01, we will hit some really strong resistance. I cant imagine continuation of the recent percentage gains much past that (other than buying panic that maybe hits .012), at least not until teleport tech is out. Then another revaluation. Then when we get some recognized expert to validate teleport, not sure what will happen
James