Short
Further Downside
The market is desperate for positive news to resolve this Gox and withdrawal debacle. Without it, buyers will remain far and few, leading to more downside/sideways action further exacerbated by panic sellers. Expect successive bounces off of ~530 area to become smaller and smaller until we break it on our way to significant lower levels. As stated above, this scenario is possible only as long as this Gox issue hangs over our heads. Careful out there! Stay in fiat and short sell rallies.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.