Bitcoin: BTCUSD Looking Up Again…Next Buy-Points Today

Bitcoin: BTCUSD             Looking Up – Next Buy Points Today
Having spent the overnight session in far East with no buyers or real interest Bitcoin             drifted as a consequence. But the good
news was it didn’t crash …that is a massive positive sign that whilst it was getting tired overnight, it wasn’t getting rejected
and sold off – just neglected more than rejected. Good for the bulls here. Overnight it has also completed a 4 sections down
move, similar to previous down-moves in this run though not so well defined as the last couple, but still similar. And now in
London it has been bought once more. Usual ‘Tokyo Drift’ overnight then met with some serious buying out of Europe at
8.30 utc. This break-out, although consolidating now, is a good one by the looks of it. To break out from here and try to
leave all the structure to its left is the first really bold move Bitcoin             has made for a couple of days – all price action up to
this point has been consolidating in nature – it’s done well and the bulls are beginning to win this 800 point argument that’s
been raging for these last 2 days. But right now it’s showing spikes on the 15 minute chart on Bitstamp and is liklely to
come off some more – the pattern we were looking for has emerged overnight and been broken decisively to updside by
this morning’s price action – if day trading you will probably have already bought the break out and now will likely have
sold (spikes showing and it’s hit clear resistance line on Bitstamp too) If so, good trading! And if not, it’s OK too, it’s
been and gone and there will be another one coming soon – and so we look to buy the dips again

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