SPY is showing a ridiculous amount of bullish strength.
I'm expecting a "small" pull back at some point probably next week. However, the short sellers will get nailed as the pull back will be short lived and then UP UP and AWAY we GO.
Okay, looks like BitCoin dropped like a rock to 6800 and bounced!
I was expecting a slow grind to 6600, so I missed the bottom and got in at 7300.
Oh well, i think there's still some upside to this, before it hits the next set of resistance.
While we are in a bullish wedge, it is going to take a while to play out.
I'm predicting a drop to around 6600 before it starts going up.
The way I'm playing this is Dollar Cost Averaging. Just buying 0.05 BTC a month. Half of it goes to BitFinex where i short BitCoin with a stop-loss. So, if it drops, i make money. If it goes up, i get stopped out... and i...
It looks like there is a HUGE wedge forming for bitCoin.
Absolute bottom looks to be around 4300 or so.
Currently BitCoin trading at 8100. However, I am expecting it to drop to 7K, maybe 5.6K at worse, and 4.3K at the absolute worst.
Either way, I plan to slowly average in as it drops putting in as little as $40 a month noting that my investment may get cut...
Short of some really really bad quarterly reports, it looks like SPY is slowly pushing up to the 200 SMA. If it pushes past the 200 SMA then next stop would be 280.
