That was one spectacular rally and a decent correction afterward. But for the medium / short time punters out there it is time to step out or go short for a bit.
This is shaping up quite nicely for a long trade over a number of days.
1 Million JPY a key level either way, breaking above or falling below counts.
Trend line lower already broken.
Bitcoin has bulldozer -ed through two out of the last three 4 hour MACD sell signals. With the indicator flashing buy it is a good time to stop being smart and put the longs back on.
After the disastrous FT interview last Friday we look for any pattern or excuse to short GBP against anything. No need to try anything complicated or clever.
Be ready to stop out or take profits at the first silly tweet.
But here is another opportunity to squeeze out a little extra performance by stepping out or selling short BTCJPY. The plain vanila 4h MACD is quite profitable.
The time frame corresponds nicely to the increase and decrease in tensions in the middle east.
Not brave enough to go short, but stepping out of BTC into JPY with the on-exchange funds for a bit.
