Is Bitcoin ready for that $330 breakout?

16 mar 2015

This is an update to a previous graph. Everything is perfectly on track for the $330 target. Things can always turn on a dime, but regular followers know how much i love my triangles and we are now able to draw one with the 3rd hit of the horizontal line at $295.

Current Plan:
You should already be long, if not pick up Bitcoin at $290-295
If it moves against you, don't panic and can even add more in the $280-290 range
if it falls bellow $280 then panic and sell but keep an eye on the rising 50-day SMA, it will provide another chance to go long or perhaps short if that moving average can't hold the price.

I will be adding to my long position on a break over $300 and taking profits at the 200 day SMA which is also the Ascending triangle target. (Time Horizon is 1 to 3 weeks but it's a special skill to get Time and Direction right so I try to stick with direction, it's hard enough)

Good Luck Traders.

Tone (@Tone_LLT) - Head of Research at BraveNewCoin

Here is my final analysis at CoinTelegraph, everything there still applies to current environment:
cointelegraph.com/news/113648/bitcoin-price-analysis-final-cointelegraph-says-good-bye-to-tone-vays