Buy the dip (and then sell again?)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
318 3 3
After a very strong and long selling streak the price has clearly found a local bottom and should bounce back up higher up to around $240.

Trade idea:

Entry: $220
Stop: $218
Target: $239

P.S. I'm showing my own indicator on my chart, which you can get here:

I don't know what the perfect period is yet, but the one I set as default does not seem to be too bad.

// UPDATE 1: Monday: April 20, 2015

// UPDATE 2: Friday: April 25, 2015

nice! good call here. i went long at 225 sold at 235. now i'm short...
ChartArt kenzboard
Seems to have been a wise decision. I was already getting ahead of myself, because the next move is going to be up.
Tight SL is mark of good trader:)
But I don't believe in this rebound. Another opportunity to open shorts imo.
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