Little correction then a run to break 800

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
978 8 13
I m expecting friday to be a really bullish day, we are now far from the big correction of monday.
Maybe a little correction to the 680 area (650 minimum) this night, then a nice run up to break 800.
This prevision can be a little wrong for the timings/speed based on the previous run up.
Good job! I'm curious, what did you base that support blue line on?
LeMogwai Tagada
The support blue is just a copy of the previous support blue line, i supposed that the next one should be similar.
The break down was pretty obvious because of the MACD on the 1hr about to cross (lot of people trade on it) and it corresponded to the break of the support trend line.
To place it at the right timing, i simply estimated how much time it would take for the Stock RSI to be oversold again.
The bottom was estimated by watching the market depth and the previous top position.
Tagada LeMogwai
Simple & effective, thanks for the explanation! Not entirely sure it'll hold through the weekend though, that danger zone between $810-840 is bound to create some resistance and could turn this rally into a double top...
Good prediction
Amazingly accurate prediction. good job.
LeMogwai AdrianD'Atri-Guiran
thx, i m trying to do my best to be the most objective i can
Why not lower?
LeMogwai Spekulatius
because of the previous top that was around 680$ and a lot of support at 650$ level
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