MTGOX:BTCUSD Bitcoin / U.S. Dollar
Not sure what to make of things as those whale buyers caught me by surprise after that last down move to $65. But, we are still making lower highs and lower lows after breaking out and down of the triangle. If we don't break out and up, then I suspect we will test new lows (sooner). If we do break up and out, I still think we will test new lows but not right away. Long term who just thinks the correction is not over yet. We need to hit $30-$50 ish imo and then we can go off to the races.
Well, as I (and many others) suspected, we broke out and down. I'm looking for a lower low over the next week or two. As above, in the $30 - $50 area. I think that in part depends on if those Satoshi Dice purchase BTC's hit the market in mass. Something tells me we can't go much below 50 but a panic sell is possible. But, when we hit bottom I think it will be safe to say, it is the bottom. Look for HUGE volume around the areas described, at least below $65.