Mt. Gox Crash, Hollow Announcement. Blow-by-blow.
Technical analysis (original article below). 20h18 UTC - final update. The chart below shows price challenging the $110 level. The inset reveals the ~4200 BTC buy orders waiting at this level. Selling pressure has chipped away at this level for several hours and there is little hope those orders can cause a reversal. It looks like the bears have sub-$100 in mind... Analysis will have to be halted at this point since fatigue is setting in. More tomorrow! 14h22 UTC. Below $135 and currently resting on $130. Indicators across all timeframes are stretched to the max and this systematic grind....
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Mt. Gox crashed through $200 around 16h00 (JST) after hovering at $250 overnight. An announcement from the exchange has been expected to come out today and it seems the waiting has caused jitters in the market and prompted a devastating sell-off below support. Updates have moved to this post: Mt. Gox Crash - blow-by-blow. Update: 19h05 Tokyo time: An underwhelming announcement by Mt. Gox says nothing about witdrawals at all - instead the company announces that it has employed additional staff to help process customer account verification requests. Update: 18h21 Tokyo time - still no....
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MtGox BTCUSD dropped below the psychologically significant $100 mark. Continuing our blow-by-blow coverage of the spectacular MtGox crash, we'll be keeping users updated with the latest news and price analysis going into the weekend. Al Swearengen has only the choicest words for Mt. Gox (photo courtesy HBO). Brief. Leading up to an eagerly anticipated Mt. Gox announcement yesterday, the exchange's BTCUSD price crashed through $200 until settling on $110 prior to the open of the Asian trading session today. MtGox customers expected the exchange to provide details about re-enabling of fiat....
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