3X DAILY TOUCH OF CORRECTIVE BOTTOM SIGNIFIES START OF NEW TREND
Gox has made a race for the bottom, thanks to the halted BTC withdrawals. This has created an enormous stuck arbitrage opportunity, and decoupled the price on Gox from all other exchanges. The upside, however, is that Gox has very likely completed its plunge, as will be confirmed by a third daily candle near 310. In closer periods, you can see the multiple bounces all retesting the 310 floor. This should set the stage for a new consolidation and support trend, in the lower channel.
**UPDATE** it would seem Gox has strongly broken all conservative lower supports, even the previous April 2013 peak. Don't be expecting a rally right away ;-)
**FINAL UPDATE** -- well, having an exchange shut down and report the theft of all its reserves kinda f***s up any and all TA, so that's that....
**UPDATE** it would seem Gox has strongly broken all conservative lower supports, even the previous April 2013 peak. Don't be expecting a rally right away ;-)
**FINAL UPDATE** -- well, having an exchange shut down and report the theft of all its reserves kinda f***s up any and all TA, so that's that....