mtgoxUSD bounce to $41 drop to $20

[usagi]

It appears as if we will bounce back to ~10% over support just like we did the last three times.

Target price in 2-3 weeks: who knows, who cares?

Target price in 2-3months: just under $20

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[nguoinhaque]

History repeats itself but not in the way we thought. That explains why predictions are wrong

[usagi]

History repeats itself but not in the way we thought. That explains why predictions are wrong

I wouldn't be so sure. I'm getting a meow reading of 28 with this chart. here's the same chart with the patented NYAN technical indicator I'm using:



Are you seeing what I am seeing? I think the indicator here speaks for itself.

I think it's pretty obvious we're in a speculative bubble. So while we can't predict the top (and therefore cannot cash out at the top) we know the price will be lower 2 or 3 months from now. My speculation is that it might be best to start cashing out slowly. Like dollar cost averaging but in reverse. That's how I am approaching this market now.

Meow.

[Rothgar]

[druid]

As we all know animals can predict great catastrophes, like earthquakes, volcano activities, meteor showers, bubble pops....
THERE IS A PANIC IN THOSE CATS EYES! SELL, SELL, SELL!

[gimme_bottles]

[niko]

In other words, OP is saying that the support has been increasing ~10% per 2-3 month rally.

I'm saying it's more like ~100%, and will continue to do so until it doesn't. It will all make sense in hindsight

[phatsphere]

you have to do this logarithmic ... your linear scaling doesn't catch the magnitudes.

[Francesco]

Nice thread