I bought Bitcoin
for the first time since I've been watching it from $10 to $1100 and back down to $157 - about 3 years. I'm bullish
because it's retraced to a major structural level and rallied 100% since then (down to 150's back to 300). Fundamentally, everything makes sense as well. Nearly every currency is losing a lot of value against the US dollar
- JPY, NZD, AUD, CAD, GBP, EUR, list goes on... All the fiats including gold
. The only "currency" that has held strong since the beginning of 2015 has been Bitcoin
. With that said, I am going long with $230 stop. I will look to a build a position on this as long as it does not break any major structure going forward.