MidasTouchConsulting

Bitcoin indeed needs more time to consolidate

BITFINEX:BTCUSD   Bitcoin / Dollar
Bitcoin indeed needs more time to consolidate & correct the sharp rise during autumn..
My ascending triangle was too optimistic. I adjusted the triangle.
The 200-MA is rising and will need to create a floor below the prices before Bitcoin can move on and breakout above $500..
Super critical support around $320-$300. I don't want to see this zone being broken on a daily & weekly close.
-> if you don´t have any Bitcoins buy below $390 with a stopp below $290
-> if you own Bitcoins you should let your winnings run and place a stopp below $290
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