The weekly moving average is pointing  upward again after the huge sell-off from 15$ to 8$, the BTC/USD reacted quickly to the moving average itself and now i think bitcoin will initiate a sideways move around 10$

I’m skeptic about a big correction because the buyers are still dominant compared to the sellers during this strong uptrend and one big investor can’t control the market on a temporal scale, it’s much more difficult to consistently manipulate a market on a time basis therefore i’m not much worried for the presence of this big player at MtGox, the only damage he can do is to add volatility that might deteriorate investor sentiment.

More info in the attached image (click to enlarge),
see you at the next update.

After the recent drop under 11.80$ i decided to close this long term trade initiated 4 months ago and take a break. This is the third consecutive day with negative net volume (outflow of money from the market) and this starts to worry me a bit after a big spike to 15.84$, i think we’ve just seen a buying climax bar that marked a potential top, after all the market surpassed yesterday my long term resistance at 14$.

I bought at 5.06$ 4 months ago, profit for this trade is ~661$, total gross profit so far 3261$, 8 trades profitable out of 12 total trades.