faario

looking for a possible long position

BITSTAMP:BTCUSD   Bitcoin
alright, this beast is untamed, its falling huge recently but the active trend still bullish.
im suggesting a risky buy position at 38000-42000 zone, its risky as catching a falling knife but ill do it, you might not!
anyway the stop loss is a daily candle closing below the blue channel (consider next candle as pullback and retesting) and first target is previous high around 56k, i rather not determining other targets because i cant conceive the fundamental behind this cryptocurrency and other virtual coins. in my opinion any virtual coin without a defined governmental backup is doomed to be destroyed someday. their annihilating would be fast and crucial but it might take some more years. until then we gotta enjoy the ride.
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