Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore
Let's get back on topic maybe?
Like I wrote in SlipperySlope's thread, I think we're at a critical point where two trendlines are about to collide.
Any relevant movement upwards, crossing 120, is evidence that the post-bubble correction trendline is broken, or at least getting weaker. Any sharp decline, 90 or lower, would be evidence that the mid-January growth trendline is no longer valid or weakened.
No idea where we're going from here, but I believe that whatever direction it is will give us a good idea where we're going in the coming weeks.
Like I wrote in SlipperySlope's thread, I think we're at a critical point where two trendlines are about to collide.
Any relevant movement upwards, crossing 120, is evidence that the post-bubble correction trendline is broken, or at least getting weaker. Any sharp decline, 90 or lower, would be evidence that the mid-January growth trendline is no longer valid or weakened.
No idea where we're going from here, but I believe that whatever direction it is will give us a good idea where we're going in the coming weeks.
When you look at the chart going back a few months, it is pretty clear that that symmetrical like triangle is a part of the uptrend and NOT recent downtrend. Also, since it is symmetrical, that would be a good omen coming out of a big upmove. But I agree with you, I don't know.
In light of all the big news lately, I really don't feel like trying to trade out and pick up more cheaper. Maybe with 30% of your holdings if you like to gamble. But I see BTC at this stage as just too open to a violent up-move.
IAS