Some good news, as we enter the blue box below, we are closely approaching our 200 MA. If there is any hope for this bitcoin dream to go on, that 200 MA will be VERY heavily defended. Some other indicators are, shorts are now up almost at an all time high, longs are slowly closing out, and RSI on the weekly has now hit the point where we have historically bounced. One last shakeout seems inevitable.
The 12hr still looks bearish, so my suggestion is to buy as close to the bottom of that blue box, unless you see a significant bounce with volume happen before that. I would put my bids at $7800 and all around those levels.
In other news, there is FUD, and more FUD, and all of that matters absolutely not. Look at the chart and trade the chart.
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The 200MA is for the daily - not the 12hr I posted above. See below for Daily
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Come to papa
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ding ding ding
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We welcome you bitcoin to our buy zone.
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Popped above resistance! :P hope you bought it.
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2day has gone mega bearish. This is now a no trade zone. If you played out the idea above you should be closing in some good profits.
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And I bought the 200MA again - Got filled at 7860 on futures - but looking for lower buys.