Expecting Bitcoin to go up.

BITFINEX:BTCUSD   Bitcoin / Dollar
40 2 1
I bought at 562 took profit and went back in at 587. Looking nice. Look for confirmation when MACD crosses and Willie's breaks out the top. Nice volume too.
That $562 was a good entry point. I still tend to think Bitcoin price will go back down. On the 12-Hour Bitcoin chart the "J" of the KDJ indicator is pretty overextended. Last time it got that overextended was back in June when price got up to around $658 and then fell back.

I believe there is still a lot of overhead resistance as can be seen on the attached chart. Still have two triangles to break out of. The top of the blue triangle is also the buy trigger for a descending Andrews' pitchfork. The fact that price has not made a run at the buy trigger since breaking out of the pitchfork makes me think price will likely go down.

Above all that you still have $680 which has proven problematic. Price failed to break through back in March and then again in June above $680.

Right now I am going to sit and watch. At $680 I am a buyer and will start looking south of $550.
Hi unfortunately looks like BTC going down .Not my fault DanV says its so .Just Joined OKcoin really happy with it so far .all the best Antonio
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