Bitcoin Outlook - July 31, 2013

Review of 30 July 2013 Outlook

Bitcoin 30 min. Chart

My trade alert for long trade if a breakthrough occurred if the cross breached the 100 mark was confirmed generating the largest trend in the last few weeks.

Forecast for 31 July 2013 Outlook

The recent price history below $100 has been driven by the US Governments PR campaign against Bitcoin which has caused a period of negative market sentiment. If your long from yesterday (unleveraged I would stay long), if your leveraged I would close and hold. I need a channel to form before I can accurately forecast and at this price any more US regulatory PR could have a large impact on the price.

Alan Edwards
Alan Edwards is a financial engineer with 15 years experience working in the city of London. He is the founder and lead quant strategist of Spotz.com, a Bitcoin Risk financial services company specializing in security, risk management and investment.