CoinCrack
Long

Today's Bitcoin Setback & The Thousand Dollar Psych Out

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
970 0 4
Today's setback brought to you by MtGox brings us into a solid support range. Notice we're still well within stage 3 and found considerable support well above the trendline.

Before today, the price was pegged around the $1,000 which is a psychological resistance level. What does that mean? Take this example:

"Bitcoin is worth over $1,000!" vs "Bitcoin is worth $900".

See the difference? At $900 the next range that comes to mind is $1,000. Above $1,000 the next range is $2,000 (or $2,500?)

Assuming we break out to the upside of the triangle forming, I anticipate leaving this $1,000 level behind for good.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out