JimMakos
Long

Is Bitcoin selloff over?

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
359 0 3
Bitcoin lost 50% since all-time high at $1,250. If we are going to believe the worst is over for Bitcoin following China's news and trust the bullish candlestick pattern on the 76.4%/61.8% Fibonacci retracement , here's a long-term trade with a 2.5:1 Risk/Reward ratio.

If this kind of prediction proves correct more often than 30% of the times, we make money in the long run.

Remember, profitable trading comes down to this simple equation:

(R/R) * (win%) > 1

Are you long or short Bitcoin?
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