Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Which reminds me, MABtc, you haven't posted any of your good TA lately. Got some to share?
I posted this a couple days ago, still looking for bearish signals. We hit my first target and corrected, now re-testing the first down trend line. I expect resistance at $640-650, and am looking for a reversal there. However, can't be sure that we won't see a longer break from the down trend than that -- a trip into the $700s is possible. But as Gox rises, the correlation weakens... I don't think we'll see a sustainable rise from here. And I definitely don't think the bear market is over.
agreed, two months is too wide a range, we're in a major period of price discovery at the moment, and I expect we'll find capitulation within the next week. Two months is pretty much guaranteed.
A week? That's pretty optimistic even for a bear.
I think we still may see some bounce from oversold conditions. This still on target for now:
But TA takes a back seat to repeated Goxxing. We'll see what happens upon another update re: withdrawals and how closely Stamp follows...
I agree with you that we are going to be bearish for a while.. but once there is any clear tendency towards clearing up the GOX matter, then BTC is going to go to the moon... double in value within a short period of time... there is a lot of pent up demand for BTC ... just waiting for a clear signal... and wanting anything to be good news and willing to let GOX go and still be good news... b/c btc clarity...