Weekly trades

What a fool’s day today, was it? The USD/BTC price climbed more than 10% from the open. Wow. And this should only be a precursor of what we can expect in following weeks.
As regards this week trading, I regret now didn’t put up a points yesterday. I just thought of today as a quiet holiday break not realising banking in Japan not been affected. And of course as at the start of every week Mt.Gox opening and processing of a new accounts and buying orders reflected in an immediate price increase.
That is why I think the major move of this week is over, but it doesn’t mean there aren’t going some opportunities appear. Here is what can I see now:
Buy: 106.05   Stop loss: 103.00     Profit take: 110.00 or when you satisfy your greed.
Sell: Not a slightest reason to sell at or near the current level.
92.18    SL: 95.00    PT: 91.20;    87.20;
Now, prefer to buy of course, but as mentioned above, I don’t like catching up a running train. It means this point can work  the 2nd or 3rd time after some stop loss hits (though the stops are big enough, are they?) .
I would also like to see a correction down to 95-97 USD and then a bounce up. But as you know one’s wishes and assumptions are completely meaningless in any market:)

Bitcoin price broke $100, ladies and gents!

Bitcoin price broke $100, ladies and gents ! Bitcoin has just made it. It breached 100 USD a moment back and now the things are starting to be very interesting (not that it’s been a boring time up to now).

Bitcoin price broke $100, ladies and gents!

While breaking into two-digit price zone (again) a few months ago turned on the attention of more advanturous speculators and investors, the triple digit price is going to attract some serious heavy weight businessmen, who no longer trust in their state-bond portfolio. Hell, not even their bank deposits if they are not personally connected to some high-level bankster.

Of course bitcoin is not the only safe haven. There is always gold and silver. But. These people look also for an investment with the highest potential (profit-cost) and an asset that is moving upward. And bitcoin clearly wins in both categories. Yes, it is “riskier” or more “volatile”. That’s why the next level of investors will be closely watching and step in at a four-digit price.

So what will be the next price development? Good question, I really don’t know. Nobody knows. And never trust someone who claims he knows where the market is heading. But of course almost everyone has some bias or anticipation as regards to the price in the next days, weeks, months.

My bias is up. The longterm and shorterm. As I mentioned when breaking 30 and 50 USD/BTC, daily movements and gains are going to increase again. That means also potential sell offs could be bigger (in nominal terms), but every dip should be quickly bought out and trend up with higher highs resumed. I will put up some buying and selling points for this week later.

Wow. I started to write this piece at a few cents below 100 USD. 30 minutes later the price is at nearly 105. We are living in an extraordinary time, enjoy that!