A Textbook Bitcoin Buy Point Coming Up

5 במרץ 2015

If TA was easy, there should be a no brainier trade in the next 72 hours to Buy all the Bitcoin you can off the support bounce. Now that we have established "stability" (relatively speaking of course) above the 50 day SMA we are pulling back to it as it turns its own trend from down to up. In addition there is horizontal support in the $255 area from the daily chart and Fibonacci's on the 2hr chart.

Bitcoin is the most unpredictable asset in the world (other than Central Banks Dropping Pegs that should never have been in place), but there is a very low risk (longer-term) trade coming up:

1. Buy off the $250-260 Bounce
2. Add to your trade on a break of $300 for a final target of $330 and/or 200 day SMA
2a. Take some profits at $300 and then add at $280 or on a break of $300

Good luck traders
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