BTCcoinsultant
Long

Bitcoin Downtrend Reversal

BITFINEX:BTCUSD   Bitcoin / Dollar
418 0 0
Bitcoin             markets feel bullish these days. A few weeks back I did a report indicating the importance of a $228 breakout to reverse a downward trend. Since then prices have been making higher lows and recently the markets had a $228 dump, which is an approximate 50% correction measuring between a high of $243 and a low of $213.

Prices are now hovering above the 23.6% fibonacci level. Yesterday I indicated that if $232 broke I would take a long position. I will be holding with the potential to scale out some profit at around $250.
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