Tendorian
Long

April 16th Bitcoin Long to 9000

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I do not think Bitcoin has bottomed but current prices say up so I shall trade in the up direction. There are a lot of resistances from 8500 to 9000 so prices may slow down there. This correction seems to be ending soon.

Price 7980
SL 7700
Target 8500-9000
Comment:

Move SL to breakeven in case this one starts to turn down.
Comment: Reverse and short if 7980 is touched, SL 8300
Comment:

Short initiated, possibly to 7500.
SL 8300
Comment:

Move SL to 8200
If this turns up we would go higher, down is more likely for now.
Comment:

A very uneventful day for bitcoin, this can break both ways now. The longer this go sideways, the more possible is the upmove.
Comment: We are turning up towards 9000, correction is complete. Will not be able to update for today.
I hope Verge's announcement today would crash the whole market.
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Death to bitcoin. Long live the dollar.
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Tendorian samiswilf
@samiswilf, Earn dollars from bitcoin!
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samiswilf Tendorian
@Tendorian, Never! I'll earn it from Gold and Silver and Forex. Bitcoin's manipulated by less than 5 big players. That's too few.
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Tendorian samiswilf
@samiswilf, That is actually a good thing, more volatility = more profits, if you know what you are doing that is.
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samiswilf Tendorian
@Tendorian, No it's a bad thing because it means TA works less.
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Tendorian samiswilf
@samiswilf, Not really, TA still works, just that the momentum travel further.
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samiswilf Tendorian
@Tendorian, How do you know TA still works? I'll tell you think, if I was the whale, I could easily look at your predictions and do the opposite of what you said.
Reply
Tendorian samiswilf
@samiswilf, The trick is to not do whatever the majority is doing, whales go after the majority, not the minority. You just need to figure out what the whales will do and follow their lead.
Reply
samiswilf Tendorian
@Tendorian, harder said than done.
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