I'm not too convinced of the decline setting up here, but it's a valid trade. If prices do slump over the course of the next 16 weeks, we may end up bottoming around the $3220 mark by then. I'd look into flipping long, long term, once this zone is reached, IF prices don't rally back over this week's high soon.
Cheers,
Ivan Labrie.
Cheers,
Ivan Labrie.
Comment:
Timing of the signal aligns nicely with fundamentals, if we get a capitulation decline by the end of January 2019, during February, after the MtGox coins are released to creditors' exchange accounts...
Comment:
Since #BTCUSD turned up earlier this week, prices have been grinding down once more, the market is highly illiquid and not tradeable. We remain on the sidelines, but watching carefully for long term long opportunities to show up later on, likely next year
