MoonTrader

Surprise! Time for a rally!

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I'm now targeting the $265-$280 area. It turns out my descending triangle was actually a bullish descending wedge . I'm now long and watching $190 strong support. It may not be immediately, but somehow, sometime, we are going to reach that $270 area again.

Price is bouncing at support as I type this, so I'm thinking this may be it despite the lack of a real V-shape other than the one right before that descending wedge . It's not pretty, but it's there. We also have what I would call climactic volume , so in light of the circumstances, I think it's a safe bet that a long here will pay off.

Good show while it lasted. I hope everyone made money.

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