The prices on gox/stamp have been going up. Does this mean that everything is slowly getting resolved and withdrawls from gox are coming soon? Is so, why have gox not posted another update? Will they wait until 2/24/14 (monday)?
Is gox just testing withdrawls, withdrawling their fake accounts so it looks like people are getting funds back (and raising confidence) etc.
If I were gox and allowing withdrawls I would post another message on the mtgox website.
I wouldn't get overly carried away by the price whiplashing that seems to be getting lead by Gox. If it is really Gox that is guiding the market at the moment then it is either wildly irrational investors (whose emotions will normalise) or clumsy bot traders (that must surely be reprogrammed).
If you are looking to go long I would be waiting for another break out above $640 and then a test of this level as a support, preferably on couple of occasions and on convincing volume. Even if this were to be a trend reversal and you weren't to get in until $680, this is surely better than $820 that the Bitcoin Nutters insisted were cheap coins as they implored you to buy into the market as you first arrived on the scene.
I stated yesterday that I believed Bitcoin would top out at $647 and then correct on low volume, eventually forcing hands of high volume Bitcoin buyers who drove price up to begin with. I can't take any credit for this call as Bitocin was already $620 when I said it and this is exactly the range that other users (MAbtc) have pinpointed as being upper limit of downtrend.
For me, the most likely scenario here is that Bitcoin slips further down retesting and probably breaching $540 support....although I was convinced that $540 was going to get breached last time around and since I am not trading at the moment, my market analysis is likely to be much sloppier than previously as quite frankly, I have already decided in my mind that Bitcoin is going down markedly lower and everything else is just noise......so I am probably not a great person to be listening to right now as far as short term forecasts go, but would like to think that I will be beating the drums for the right side of the trade just as soon as Bitcoin really has/is turning the corner.
