Traxtar928
Short

Market Recovery Downward Trend

MTGOX:BTCUSD   Bitcoin / Dollar
403 1 2
I think we'll have an uneventful day today. As china wakes up we'll see what direction the added volume will push the momentum in. We may pop out of the band a couple times, but the down trend is still being followed on all my charts.

This is the band I'm referring to, and represents most of the movement we've seen the past few days.

Since we're close to my perceived low, shorting is definitely not recommended even though we're kissing the top of it. Risk isn't worth reward IMO             .

The chart's don't lie. I base my thoughts off history. Bitcoin is still long term bull , there's no debate about that. We're talking about how the market recovers from the exponential growth we just experienced.

I am long, but I'm also here to increase my investment on the way. These spikes are the perfect opportunity to do that... consider them a blessing.
Its about time we broke out. Great job trending this correction.
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