This idea is valid if and only if these conditions are satisfied:
I. The red support holds at point C
II. We break out of the downtrend with strong buy volume and find support above it
III. Mt. Gox trustee refrains from dumping more Bitcoins onto the open market
This is posted as an experiment to see how the price behaves. Please do not construe this post as investment advice.
Finally, as a side note, I've recently posted various bullish and bearish scenarios for the sake of objectivity.
I. The red support holds at point C
II. We break out of the downtrend with strong buy volume and find support above it
III. Mt. Gox trustee refrains from dumping more Bitcoins onto the open market
This is posted as an experiment to see how the price behaves. Please do not construe this post as investment advice.
Finally, as a side note, I've recently posted various bullish and bearish scenarios for the sake of objectivity.
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Questions for your consideration regarding Bitcoin:
