CryptStorm
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December 03, 2013, 08:24:21 AM

bulltrap in progress?

No, looks like we're seriously testing resistance at 1100.

Shocked i c, possible breakout you think? or we stay here for a while

Hard to say. We've been running in the 1000-1100 channel for a while, but I don't think that'll be long-lived. At the moment an upwards breakout from that channel appears more likely.

24h high is at 1117.80, so that's the number to watch if we do break resistance at 1100.

Hmmm, I'm thinking it's not so much 1117.80 as the fact that we are now trading under the slower moving average, and have not yet been able to break back through. So, it may just be a moving target, careful. I'd love for us to break through it, but, who knows, and, it's been one helluva a spike.

My brother asked me over the holiday (Thanksgiving) if Bitcoin goes up faster or down faster, and I replied it comes down faster (thinking about the crashes). Checked it, I was wrong. It comes down slower than it goes up, over the long haul. So this run-up is going to take several months to unwind. There's time to close out your positions, and then, take a trip somewhere nice. I'll be going to Bali for the winter  Grin