Bitcoin Price Breaks through Resistance for a Surprise Rally
Well, as many have noted in the comment section, my warning of a possible short-term fall in Bitcoin price Friday coincided very well with a RISE in price. I wish it weren’t so, but it happens. As my readers likely know, my published long-term forecast is for Bitcoin price to rise for the next several months. Trader’s strategies differ, but I am of the opinion that if the trend is up, one should only trade long, and not short. Conversely, if the larger trend is down, only trade short. Scalpers, of course, disregard this logic every day. Sometimes it is profitable to trade against the....
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