NF414
Long

Correction or top?

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
207 1 0
Bitcoin seems to be in a minor correction ATM. The pattern at hand pretty much resembles the correction on 7th of November (blue box on the left). With overall sentiment in mind, i.e. general buy-and-hold             mentality, state of the order-book and bullish sentiment, i am led to believe that the odds are in favor of still more upside in the short-term, before a major correction is to take place.
Trade working out well. Price consolidated a little longer than on 11-7, but never took out the blue triangles low. Protected with stop-loss in the money, therefore trade is closed as profitable. Seeing some selling pressure, be careful.
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