Short where you want, long where you like to. Last down move could be coming. Shorts may work out. However, if you've followed my previous chart which had shown all the possible role reversing level ( Resistance into support ) We've just touched the line and going back up again. I've known some traders bought in at the 1000s Level and you might want to hold even...
But this time the risk reward is worth it. BTCUSD is approaching all time highs again. But a stronger USD and capital controls may mean downside in the short term. China and governments don't like BTC at these levels - challenges fiat currency. Stop loss above all time highs makes sense. Target $850 - where it was a few weeks ago ;)
Thinking about scalping a quick short. It doesn't look like there is enough volume to break into the Kumo. Weak TK cross under resistance. Entering if this thing wicks when touching Kumo in the dreaded 666.00 area.
Pushing daisies, retest bottom support, succeed and sky.
Based on the news (btc-e has/had issue's / ddos attacks other exchanges?) i don't think we would hit 500 soon. My guessing is first the market will dump - price will go down to 330/340 and then buy. But i'm waiting to break the trendline and then join the move. What do you think?