Topic: Is anyone else betting on a breakdown from current levels? - page 2. (Read 1024 times)
I would avoid using "chartist" techniques. They are nonsense. The modern incarnation of voodoo, if you will.
On what basis do you make this assessment? It seems your 50-60 is just as arbitrary as the "moooon" crowd.
If you look at a 7 day chart, you'll see that the last short term downtrend met resistance in the 50-60 dollar range. I expect this resistance level to be tested at least once more before the uptrend continues. The chart to me still looks a bit heavy, the recent high at 136 looks to be close enough to a previous peak (april 10th or 11th it looks like) that it could be a double top that may be signalling a range trade. All in all though, it's too early to tell... at least for me.
On what basis do you make this assessment? It seems your 50-60 is just as arbitrary as the "moooon" crowd.
If you study the chart before it crashed from 266, you will notice that it daily crashes or rises with an average of 10.
Just sit and wait young warrior, sit and wait...
Just sit and wait young warrior, sit and wait...
I still expect mtgox/BTC to hit between $50-$60 (probably double bottoming or hitting just above the previous lows). Does anyone else think this is reasonable or are you all perma-bulls who think BTC is going to the MOoOOOOn tomorrow!? (That's a joke, but if you seriously think that we are in for a short term break out PLEASE give me some technicals).
Peace and Love
Peace and Love
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