rookpaal

BTCUSD Crossroad yet to come

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
2
Well, again we're playing a bounce.

It seems that we just took a decision at a crucial crossroads when we broke the triangle at the big red cross.

However, my idea is that the real decision is yet to come as we have to watch carefully how the bounce will play out.

Also mind that there's signs of the USD markets topping out, meaning that BTC and commodities in general could prove a safe haven for capital in the coming weeks.

I see retracing to the 365-370 as highly probable, at which point the real decision will be made. If the bounce doesnt come, a tight stop will save us from being pulled to depths that could even reach 2xx$ figures again.