I'm a crypto bull long-term. But I'm learning not to fight the trend. Bitcoin is still in a downtrend. Clearly, there was good profit between 6000ish and 11,700ish levels. Be cautious with your trading until the downtrend is broken and a new uptrend is established. Also note the negative divergence on the RSI as a signal of the last 3 major downturns.
* Weekly trend down throughout 2015
* Lots of chop
* Yahoo Finance article on 12/30 says "reached its 50 day moving average in a bullish manner". Sorry guys, did that 8 times in 2015. Until it breaks the channel, it is in a downtrend.
* Uptrend continues on weekly
* Breaking up out of symmetrical triangle
* Daily chart shows short term GMMA bouncing off long term GMMA
* Hourly still in sideways pattern
Enter on clear bounce of ST GMMA away from LT GMMA