$200!!! Wheres the next resistance ??

 

Things have been super busy in my day job, and didn’t have an internet connection last night, so been taking me a while to get this post out which has been frustrating.

Things are going crazy, its hard to keep up. I think we’ve broken $200 US now!!!!

Image

 

Anyway, I noticed quite a while ago what looked like a resistance level somewhere near $200 ish.. Here it is again on the ‘all data’ log chart.

Very hard to judge on these log scales what prices are but as you can see the green increasing price is at this very moment approaching the same trend line which produced resistance twice during the 2011 mania. At that time prices where around $10, here we are on the same trend with prices over $200.Quite an amazing trend don’t you think?

I’m expecting quite a big correction soon when we reach that level. Will it even be the top? Personally I’m guessing it won’t be, but who knows?

 

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10 thoughts on “$200!!! Wheres the next resistance ??

  1. should i buy more or should i sell the one i have? lulz this is crazy crazy shit, i became curious about it when it was $20, why the fuck did i not buy 10 then and sell them now! I bought 1 when it was $50 😐

  2. Hi Karan, thanks for commenting. Can’t say what you should do, thats only up to you. But I’m keeping most of my bitcoins for the long duration, have sold a little bit, as I’ve been expecting a dip. But so far no sign of that dip

  3. Took just a little profit up around 240 … sold 5 yesterday. Should have sold more.

    Definitely a correction now; in a day or 2 we’ll know if it’s a trend change.

  4. Tried to sell in somewhat of a panic today, but MtGox was swamped with either a DDoS or thousands of users logging in. I placed ‘sell’ orders and then sat there clicking the ‘cancel’ button. Because MtGox was so slow I managed to cancel everything before it cleared.
    It is bad trading form to try to sell into a waterfall like that.

    Later in the afternoon I spent some of the $ I had from selling a few at $233 yesterday … bought back in at about $149. My new DCA is now around $77. Dead cat bounce. Too soon to tell if this is a trend change, it might just resume its manic ascent tomorrow.

    1. I don’t use MtGox but had similar frustrations I think, I use localbitcoins eventually bought back some of the ones I sold at a cheaper price but it’s hard to get a price thats near what the exchanges quote.

      Not sure about the DDOS versus just swamped by users in a mania. Both are very plausible. Hard to get hold of a chart just now, site down for maintenence

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