MtGox action has been a bit flat today little ups and downs but nothing too dramatic, an earlier attempt to break through the midline of my fork failed. Was going to post an updated chart in the comments of the last post but thought this might merit a post of its own as theres been quite a nice break up into the top half of my bearish fork. Here it is with 1hour candles
Even though I am now quite short bitcoins, (disclosure have sold part of my stack which I was supposed to leave as buy and hold), I still get a warm fuzzy feeling seeing bitcoins rising in price. To me it symbolises freedom from debt based serfdom when I see bitcoins going up. Wether or not bitcoins ever fullfills the dream of overthrowing the central banking cartel who monolpolise money creation for their own gain remains to be seen, but if nothing else it is shining light on new possibilities for mankind.
Wow, in the time it took me to write that bitcoins has shot up a fair bit more, like this
Anyway, its nice to see this run but personally I’m still feeling like the bearish trend is in control until i see good evidence its not. If we can break out the top of this fork I’ll start rethinking but until then I’m still expecting lower prices may occur.