MTGOX:BTCUSD   Bitcoin / U.S. Dollar
557 views
5
557 1
Fitting a fib wedge and time periods over the current price action yields some interesting correlation.

The daily chart doesn't look too good and this 2h chart doesn't seem to be any better. The bearish consolidation we have been in this week seems to confirm the daily MACD cross-down is in effect, however; the high amount of moving average convergence in this zone will likely limit the January / February down motion to something more gradual. Profiting on these small price swings may require leverage. Selling pressure may pick up as the days wear on, however; there should be more channel and bounce opportunities if price begins to swing again.
I think the price will cross the 200 and get to 610 or lower eventually. This consolidation seems like a good place to dump as there are plenty of moving averages for ma bots to buy it up and ratchet prices back up with no volume. That seems like what's been happening today with a pattern of large red and small green volume bars. Ask sum has been rising markedly with bids lagging behind, but also rising. http://www.blockchained.com/depth_mtgox_15d.png
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out