Quote from: NOTAL on May 06, 2011, 07:40:32 PM

Quote from: epii on May 06, 2011, 06:30:06 PM

@S3052
Do you consider the small surge today to still be consistent with your short-term forecast of a break downwards? Or would you say the less likely scenario is taking place? Or is it too early to say?

I still think it looks like it will break downwards. Look at the market depth, (http://bitcoincharts.com/markets/mtgoxUSD_depth.html), there is not much resistance down to about 2.8, and there is a lot more asks than bids. Looks like downward pressure to me.

Of course, I don't know what I'm talking about, and even if I did, a single big buyer (or seller) could cause a huge break either way.

Yeah, that was my interpretation of the depth (plus, the other markets are trading significantly lower than Mt. Gox today), but I too don't know what I'm talking about. Tongue