BryceWH

Midterm Neutral, long term Bull.

MTGOX:BTCUSD   Bitcoin / Dollar
281 0 0
Price bounced hard off the 50% Fibonacci retracement and candle closed JUST above the previous 66% mark of 973.

Confluence with a bounce around the 50 SMA zone, which was seen in the previous bounce to the 452 level.

I see the $1000 as a round psychological number as well as the 50 SMA as a pivotal point to hold.

Long term bullish however if we see a close below the 846 dollar point i would consider a move lower to the 600's for a FULL 50% retracement (of 0 to 1241, as was seen in the 900 to 452 drop) which would also coincide with a test of the 200 SMA .
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