Dont Invest in Bitcoin…Trade It!

BITCOIN LONG TERM OUTLOOK

Its still always best to take a step back and look at the long term picture from a broad macro view. Long term trends in Bitcoin continue to remain bearish. Price action is confirming that it just cannot hold, and continues to break down. Long term holders of bitcoin should be out, or at least holding less than core allocations. While shorting can be considered aggressive, long term position players could consider finding quality pattern formations to trade on the short side with shorter trade durations.

BITCOIN MEDIUM TERM UPDATE

Medium term trends in Bitcoin continue to remain bullish. Price action is primed for swing traders in these zones. Our confirmation indicators are confirming the current trend which can help give traders the green light with more assurance. Conservative traders can look to trade a break above $4k with tight stops at March lows.

BITCOIN SHORT TERM VIEW

Short term momentum right now is positive. Internal intraday metrics to weekly measures are showing that bitcoin is picking up and maintaining its current velocity to the upside. Short term weekly swing trades to high quality intraday pattern alignment with the current momentum has an increased probability of success. Potential short term cup and handle showing up.

Trade smart,

Paul "Bulldog" Hudson, Chief Investment Officer
Darwin Investing Network