Algokid

Good Support on BTC , but...........

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
518 6 0
I don't know if technical analysis can be applied on BTC ( as it is a different beast), but if yes, based on simple support resistance lines ( in blue) , looks like it may bounce back. But right now , price movement is heavily influenced by fundamentals ( news, BTC exchange issues, arrests of major players in the field, etc ). So again, don't know if T.A can be properly applied here

cheers

Algo
www.passivestor.com
rc111
2 years ago
People will want goxBTC again if evidence surfaces that BTC withdrawals are to be reinstated. T.A. can't predict if or when that happens, so in this case, I think it's pretty unreliable.
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Algokid PRO rc111
2 years ago
My thoughts exactly.
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charttrader PRO Algokid
2 years ago
Algokid, great to see new idea from you!
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Algokid PRO charttrader
2 years ago
Hey Chart Trader

Thank you :) , yeah I've been a bit busy near the end of 2013. My schedule is finally clearing up. Will be posting more ideas soon .
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RamonOfSouza rc111
2 years ago
Why would anyone want gox again? Even when coins get reinstated why would you want to trust them? The only reason I can think of would be to arbitrage coin but their fiat withdrawals have always been notorious for taking an immense amount of time, you'd do better just trading BTC
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Algokid PRO RamonOfSouza
2 years ago
Why would anyone hold BTC at this point ? On one side you have regulators who are obviously not happy with people "printing" their own money, and the other side you hackers who are deliberately attacking BTC exchanges to drop the prices so they can buy the dip. Do i really want to own such " security" ?. Does anyone own BTC for peer 2 peer payment system or just to make a quick buck ?
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