simonsays452
Long

Bitcoin getting all coiled up. Waiting for signal higher.

BITSTAMP:BTCUSD   Bitcoin / Dollar
122 0 0
We're seeing a symmetrical triangle forming on the daily here with two consecutive spinning tops from last week and two consecutive dojis yesterday and today. We're clearly in a consolidation zone with indecision running high.
Comment: So we've broken out! There's no fundamental value yet in BTC, so price is really only a function of demand. Demand that is generated by either hype and/or concentrated increases in transactions. Hype has died down from a few weeks ago, but Argentina has another massive devaluation waiting in the wings. Going long BTC (I own a few Bitcoins in separate trading account) might be an interesting way to play a "wiping the slate clean" in Argentina.
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