TheSleepyTrader
Long

Bitcoins - Long from start of August. EMA prediction to October.

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
450 1 0
A quick chart with two EMA's and my estimated channel.

I think we are seeing the shorter EMA providing support - The yellow line is the current line of resistance I'm seeing as the market moves up. If we break that I estimate we'll then see the pink line forming the next resistance with the yellow forming on-going support.

The market seems to be moving in tandem with Gold             and Silver             , both of which I am also long on and will publish the charts.

$70 is the very bottom of the current prices - That is expected to form repeated support, although I suspect we will see some consolidation around the $150 - 160 mark unless world events move on.

Depending on what happens in Syria we could see another large, sudden jump in the BTC price taking us over the yellow line.
Apologies for the title :) I did it for a friend then forgot to remove before I pushed the chart.

For reference I've been in Bitcoins since they were about $10 per coin, most recently I bought some more at $85 and I also have a mining operation so I do have a vested interest in the price of BTC.
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