The bottom of the cloud seems to have acted as resistance which was expected, now it's time to look for some good entries.
$11k is the 100D MA which, while not perfectly, seemed to have acted as support in the big fall last week. I will be buying a 20% position around here. (current position is 10% long).
This is near the bottom of the local low and could be a good spot to buy in anticipation of a double bottom. 40% buy.
This is around the current long term trend line. There are quite a lot predicting here as the bottom so it may be purrent to front load the buy point. 90% buy for a 160% position.
My current medium term fundamental position is for bitcoin to rally again this year. One reason can be seen in this post. So I am happy to long when I think it will go up and go flat when I think it my fall.
Thanks for reading.
KevinBacon
My favourite site for trading is Bitmex, as the future contracts allow for lots of arbitage opportunites and the leverage lets me leave most of my stash safe in cold storage. If you don't already use it and would like to sign up, here is a referral link that will get you 10% off fees and rewards me with 10% of the fees you pay, we both win.
A coupld of exchange sites I also use are binance and hitbtc, I find them about as good as the other exchanges to be honest but these have referal links so I figure I'd shill for them.
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