SamThompson
Long

contracting symetrical triangle

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
260 5 3
contracting triangle breakout. should be done on volume . Price Target of $229/BTC very rapidly. Could this correspond with release of ASIC             processors by BFL?
The 8 week bear, just ended, will likely be followed by a 13 week bull. The 266 high will be taken out for sure. This will be fun.
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What are you suggesting here? Is it going to get up to $229 again?
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yes, as a preliminary target. it needs to break out of the triangle in the next week or so on volume to confirm that is where it is going.
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BTCbizz SamThompson
That would be great. I am sure it will happen, and some predict up to $1,000/BTC!! I didn't like the fact that it went up to $229 and dumped tremendously back down the very next day. However, history has show the spike reach that level.. I am pretty sure that spike is going to hit sometime soon also.
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Jerkballs BTCbizz
:-)
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