BitcoinLong
Bitcoin snap back - the revenge of the BTC
The trend has changed in bitcoin. This recent action is scraping the bottom of a foundation that so far has held up its strength.
It is down for the time being, but we believe that it is settling. This two hour chart highlights our way of buying low on the curve.
Here is the trade. We want to be buyers here in this 15-30 point zone, and with that we anticipate an upward move of 500 to as much as 700 points.
The reason why is that bollinger bands can only contain price for so long when its suppressed this long before they mean revert, that is a return back to the middle.
It is so low on this bollinger band that it will probably make its way back up to 8,000 or just a hair shy of it. This 2 hour chart at least points out BTC's ability to make it to the higher band, and then get rejected into a lower trajectory.
It is down for the time being, but we believe that it is settling. This two hour chart highlights our way of buying low on the curve.
Here is the trade. We want to be buyers here in this 15-30 point zone, and with that we anticipate an upward move of 500 to as much as 700 points.
The reason why is that bollinger bands can only contain price for so long when its suppressed this long before they mean revert, that is a return back to the middle.
It is so low on this bollinger band that it will probably make its way back up to 8,000 or just a hair shy of it. This 2 hour chart at least points out BTC's ability to make it to the higher band, and then get rejected into a lower trajectory.
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