quantguy
Long

BTCUSD Short Term Long Trade

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD             looks like it might rally here shortly. We see some strong resistance from below via the Ichimoku cloud . The OBV indicates strong buying pressure still. The MACD and RSI are right in the 'sweet spot'. Moreover, we have somewhat higher lows and a double bottom formation. The Fibonacci retracement indicates some nice profit targets, otherwise we can use the level at 384.90 or so. For a stop loss consider the congestion area around 379.37. As for fundamentals, BTCUSD             seems to have come back into favor after retracing a bit from its epic rally last week as per the linked article.
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