norok

Believe it or not: Bitcoin bulls have reason for optimism

BITSTAMP:BTCUSD   Bitcoin / Dollar
113 0 3
Following up on the last forecast Bitcoin came down to the "Do or Die" support.

The gains from the bubble are erased but have not been completely reversed. Price did a hard bounce off the level and has managed to close above it once again. We have yet to establish a short term Ichimoku support or higher pivot to justify going long on Bitstamp charts but Bitfinex's second pivot low, being higher than the first, gives a hint of optimism.

Whereas before I was using Bitfinex charts I now am looking at both it and Bitstamp . Price action has always been at a slight difference between them but in this recent margin call flash crash and test of the support it has become more pronounced. I am leaning towards Bitstamp being a "more accurate" indicator of price action for two reasons: no margin exacerbation and Ichimoku Supports and Resistances tend to hold with more fidelity.
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