If we break 830, next target 920-940

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
372 8 4
If we break 830 resistance on gox, (which it looks like we will in the next few hours) my next target is both previous resistance at 920-940 and my next fib
Here is the same chart with a wedge. Looks like something like that could play out...
flibbr Nathanael
Absolutely. Crash back to $720-780 from the top (bottom of the top trend line)
Tagada flibbr
More like crash to $450 imo.
flibbr Tagada
Tagada flibbr
$920 makes us touch the top of the downwards channel we're in since the crash, which i don't see us breaking, there's previous support @ $453 as well as an old support line @ $435. I'm not saying we can't stop around $700, but i just feel that we have been artificially manipulated out of the last drop from this crash, and that it is still to come after this forced rebound fails. It's more of a strong hunch really, i should have replied with that instead of my previous answer.
flibbr Tagada
interesting.. I personally think the China news pushed it to the big lows and without such equally bad news... we won't go lower than $453 at least, only double bottom it at most.. but I also think selling sub $600 offer such little risk reward that it will not breach sub $600..
Tagada flibbr
I don't see us going below $450 either, most see those prices as too much of a deal right now for that. But i don't underestimate the power of fear and panic selling either :)

I see this uptrend as having been largely artificial at first, even if the current bullish pressure is definitely real. I think we'll see a slow rise over the coming days, followed by a bit of stagnation before an eventual dump. Whoever propped up the price is waiting for the absolute peak before exiting, and people tend to sell in the most unreasonable ways in these situations.
flibbr Tagada
Yes I agree with what you said.
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