Rashad

Bitcoin is bottoming. Buy now. Back to 370 and possibly beyond!

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Recently Bitcoin finally broke support as strength continued to fall at support.
-Right now Stochastic RSI %K is nearing the limit, there is a strong possibility it will rise. As I began building this chart is was 0, now its above 2.
-RSI did not yet cross below 30, so no sell signal in RSI
-Percent Rank Tops-Bottom showing bottom
-Price has moved below the lower band of the Bollinger band . Considering %K in Stochastic RSI is moving up as I type this, Likely there will be a reversal.

Look for Stochastic RSI to Cross, it most likely will. Bitcoin has bottomed. I will be looking to get out at 370 if there are bearish conditions when Bitcoin moves back to that price. Otherwise, I will re-evaluate and possibly stay in a long position.

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