cointrader11
Long

Bitcoin - Massive Stop Hunt

BITSTAMP:BTCUSD   Bitcoin / Dollar
This is a pretty basic chart. I am basing this idea off of no indicators - only price action.

We're approaching the end of a consolidation triangle and the 12-hr BBANDS are tight as fuck, also the price just bounced off the bottom (but that is a different chart I'm not trying to illustrate here. What I'm basing my idea off, is this.

Anybody who took a long in the last 8 months got their stop losses triggered (if they had one). If the last dump just under $200 was a stop hunt... then it should be ready to move the OPPOSITE way. It's very possible Bitcoin             could drop down into that liquidity pool again, but it makes more sense TO ME for it to go up from here.

This is my own idea don't care if it ends up being wrong - I'm trading it the way i see it!
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