Ionthas
Short

Trade 3 14/02/2014

BITSTAMP:BTCUSD   Bitcoin / Dollar
45 0 0
I will use that as an exercise and a trading diary.

Based on the news that MtGox has a solution for the bug we can see that there is a bullish movement.

However, I think people is skeptical about Bitcoin and they didn't have confidence on it at the moment.

Based on this assumptions and knowing that in 671$ there is a resistance level I don't think that the bullish push will go beyond that. My entry point was shorting at 640$. I choose that entry point because I saw that volume was decreasing. I calculate my target at 86% using a Fibonacci retracement. I think that the low of this trend will be up the previous low and then stibilize between 600$ and 620$.
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