quantguy

Best Bitcoin Trading Ideas

Long
BITSTAMP:BTCUSD   Bitcoin
Bitcoin continues its meteoric rise against the dollar (as most dollar denominated assets are right now). Any dip should be considered a buying opportunity. There is increasing adoption, and the Ripple issue with the SEC is only fueling Bitcoin's ascent as people are selling out of Ripple into BTC. The next target is a Fibonacci extension at about $29K, then we can expect it to test the $30K level, which is a technical and psychological level. Some are saying we could correct back $17K, but at this point that is just wishful thinking. If history serves us, there should be a selloff toward tax season, which can provide an entry opportunity for those late to the party.

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