nikosfloydas
Long

Dead cat bounce? Or we just found the Bottom?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Not much more to add here than what the chart is showing.

To answer my title:
We are still in a noisy place even if we bounced up instantly after we touched the 200ma in a 3-day chart. And everyone knows that it's good to avoid noise.
Up or Down? Markets are moving mainly randomly! Why else you think that even the best traders want your money through subscriptions?

I still want to see BTC above our resistance at 6650$ to think for a bulish continuation.
The thing that our current candle sharply rised back after touching our previous low(&200ma) it's a very good sign. The same happened back in 14 August and an upward move followed.
Have in mind that we can still go to our previous lows, visiting our support area at 5750-6000$.
We maybe see there a better trading setup unfolding, giving us a good opportunity to add.

To sum-up:
It's wiser toput an order above 6650$ or to wait for a better trade setup nearer our bottom.
Don't forget that our current daily cundle haven't closed yet!

--> This is not a financial advice! These markets are really aggressive, you can loose all your capital! <--

Comment: Nice move! Don't forget, we want at least our daily candle to close above our resistance.
It's obvious that the masses see an opportunity (speculation) on these markets and they push the mrket to move the way the want. This is the time that the market will move that way to give just a fake break out. And then it will come back to show the move that really wanted to do.
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