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
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Move SL to breakeven in case this one starts to turn down.
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Reverse and short if 7980 is touched, SL 8300
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Short initiated, possibly to 7500. SL 8300
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Move SL to 8200 If this turns up we would go higher, down is more likely for now.
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A very uneventful day for bitcoin, this can break both ways now. The longer this go sideways, the more possible is the upmove.
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We are turning up towards 9000, correction is complete. Will not be able to update for today.
@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.
Tendorian
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@samiswilf, That is actually a good thing, more volatility = more profits, if you know what you are doing that is.
samiswilf
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@Tendorian, No it's a bad thing because it means TA works less.
Tendorian
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@samiswilf, Not really, TA still works, just that the momentum travel further.
samiswilf
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@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.