Today's Bitcoin Setback & The Thousand Dollar Psych Out

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
973 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.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out