VerthagOG
Long

Lets Trade this Setup : BTC/USD

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin showing bullish movement with a pullback completed at 8,675 USD .
BTC bounced off the 50-candle MA yesterday, establishing it as a strong support. The major moving averages - 50, 100, 200 - are trending north in favor of the bulls.

The pullback seems to have ended at $8,652, leaving bitcoin set to scale the resistance at $9,280 ( double top neckline) and rise towards the 200-day MA located at $9,878.

Bear scenario: A failure to take out $9,280 and a drop below the previous day's low of $8,652 would establish lower highs and lower lows pattern ( bearish setup) and would strengthen the case for a deeper pullback to $7,823 (April 17 low).
Is is better to miss 100 trades rather than facing 50% loss
thank you
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very useful infos thank you very much!
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