ibankbitcoins

10-10-2015 Bitcoin weekend update, market consolidates

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
a year ago
My BTC weekly update:

TA wise, I am actually slightly bearish short term because of the following reasons:

1. Largest bar on a short term uptrend three days ago. Possible last exhaustive push. We have been up for 4 weeks straight now.

2. We made new highs for a brief moment before pulling back, a new high above 248 would be a continuation of the uptrend. We are below that now which imo is slightly bearish . 250 is strong resistance. If you look at past data, 250 proved to be good reversals area.

3. Volume in an uptrend should pick up but I do not see that happening on futures open interest or volume . Generally, people should be "excited" to speculate when price move higher.

So until price can prove to us that it can go above 250, I won't be buying and waiting on the sideline.

My BTC trade performance with time stamp: www.ibankbitcoins.com/bitcoin-trade-performance

I do live trades and bitcoin market analysis daily. Follow me on my bitcoin trading blog and twitter: www.ibankbitcoins.com, www.twitter.com/ibankbitcoins
a year ago
Trade closed: target reached: My previous weekend update:
Where is Bitcoin going? Creeping upwards/low open interest


Market indeed creeped up but choppy as hell.
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