Tone_LLT

Is it ready to turn back up?

BITSTAMP:BTCUSD   Bitcoin / Dollar
Very tough call right here, very hard choice for a short term trader.

On the one hand it just missed the 200 SMA and came up just short on the RSI so a $20 drop right here would be perfect. But on the other hand there was some nice volume on the turn from $371 and the Overbought condition has been cleared.

Look for a break of $400 to jump on the next up move.
Keep an eye on one more small down move to touch the 200 SMA for a reversal around $365
And a drop below the 200 SMA would imply a larger pullback down to $340 or so.
Great work!
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It really was a tough call.

But ultimately the bulls won and your forecast turned out to show the real move. While after being bearish yesterday
Testing The Bullish Bitcoin Bottom
I had to create a new bullish forecast today:
Bullish Bitcoin Bottom Is Back To Break $400
+1 Reply
ChartArt ChartArt
You even nailed in your analysis / forecast the area where the price later moved up. Excellent job :)

Screenshot from today based on your chart from yesterday:
snapshot
+2 Reply
Thanks ChartArt, it's such a challenge getting something right when so many eyes are watching... i love doing it but this is not a full time gig yet so doing my best when ever i get a chance. You can follow my Detailed Analysis series on CoinTelegraph, here is my profile there:
http://cointelegraph.com/authors/tone_vays

Thanks again for taking the time to comment
+2 Reply
More sideways for now, we need to build more momentum to break the resistance again :)
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