Simple indicator - 200/50SMA - 4hr Chart - WATCH

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
There is a possibility of a bounce again from the 680 levels.....but watch this cross as a danger signal. If bounce, short term longs possible at high risk/cost. Keep in consideration for either new highs or lows in near term.

UPDATE 18/12/2013 - We now have a cross and the 200 SMA on the 6hr was destroyed. BTC has now found support at 450 which was a previous low from 20 November with the 200SMA on the 12Hr showing support at 420$. Breach these and we're on our way to the 200s with the 200SMA providing support on the 1D chart at 260$.

I suspect we'll consolidate in the current range for a while first however.

If you can't make money during a bear market, you won't have the will to take profits during a bull market.

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