FX_Crypto_Trader

Bitcoin Buying Area?

Long
BITSTAMP:BTCUSD   Bitcoin
Good morning all, today we are looking at Bitcoin again. We have had one successful trader of late and also one that has hit our SL. Previously on the bearish run down we had a nice sell position which we did well from. But where we find price sitting currently I am not inclined to sell at the moment. If price can hold this level of 30K then I am happy to try a buy. As we can see from the past this demand level has been the source of all time high's. So a rebound in trend is of good probability. Even if we didn't go on to make a new ATH we could certainly get a good trade out of it. If we manage to break this level then it looks like we will certainly be visiting the 20K zone. One thing for sure though is that we are being presented the opportunity to buy BTC at cheap prices, either HODL or leveraged position's, buying at the bottom is what we want. Let's watch for a few days to see if we find demand here before we take a buy, but be ready. GLIYF

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