Why Bitcoin meeting resistance at $1,090 was No Surprise

Bitcoin / U.S. DollarMt.Gox

Description

⋅ Jan 8, 2014 11:44 AM

goo.gl/WSeb5p

Bitcoin uptrend met resistance at $1,090. Will it hold?

Will you trust the short-term uptrend or the twice-confirmed resistance level at the daily chart?

Comments

BryceWH

⋅ Jan 8, 2014 12:56 PM

Vague ideas are not the same as posting a chart detailing your ideas. This chart you posted has no indications at all:

lh3.googleusercontent.com/-68H-b5VYZsk/Usmxuhn2v1I/AAAAAAAADEc/J_1vjPSUTq4/w895-h624-no/bitcoin.png

Thanks for playing.

BryceWH

⋅ Jan 8, 2014 12:49 PM

hindsight's 20/20 huh? anyone can post a chart a day later with their "expert analysis" OH GOLY NO SUPRISE HERE.

JimMakos

⋅ Jan 8, 2014 12:51 PM

If you've read the linked article, you'd have seen that I talked about that on January 5. plus.google.com/104941013638539474491/posts/TrgffyQAf2E

ThomasVeil

⋅ Jan 8, 2014 11:57 AM

So why was it no surprise?

JimMakos

⋅ Jan 8, 2014 12:48 PM

Because of December's resistance. You can read more in the link I included.

BryceWH

⋅ Jan 8, 2014 11:46 AM

Wow, such analysis. Very Expert. Wow.

JimMakos

⋅ Jan 8, 2014 12:47 PM

Well, it doesn't have to be complicated. A previous support or resistance level is all it takes sometimes.