July 17, 2015. Bitcoin Weekly update, pullback, bullish trend

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
We were down 4 days in a row, by Friday, the selloff slowed and dips were bought. Taking a look at the daily chart , we are still above major support and above rising trendline bitcoin daily chart/supports

If price can consolidate and stay above major support and trendlines , it is bullish . I will be buying the dips. If we falter, I expect another retrace to 250 around the 200 day moving average.

I also got hate mails, bad trader, bad calls etc... because my recent trade had a loss of 4.8%. My only comment is that, as a trader, it is only probable that I am profitable on a trade, not guaranteed. I am not a fortune teller. Please don't blindly follow any trades. Risk appetite and risk management is different for everyone. If I posted a disclaimer every time, I feel conceited so I don't know.

I do live trades and bitcoin market analysis daily. Follow me on my bitcoin trading blog and twitter: ibankbitcoins.com, http://www.twitter.com/ibankbitcoins

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