Check out the daily forecast for the BTC/USD pair here.
I recommended holding for unleveraged, the market touched 101 before bouncing back quite quickly in one of the strongest recent trends.
For those with unleveraged positions I advised staying long nothing was likely to happen until a channel reformed before a trend appeared (which is now formed at the time of writing).
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.
For the last week the trading has been between the 75 floor and the 100 ceiling which remained untested until now.
If you followed the previous forecasts you shorted the 96-97 range and exited in the 93-94. I flagged this the 94-96 range between to be avoid until a clear break through develops above or below.
I suggested holding out until a breakthrough or reversal at top or bottom of this range with expectation the action would be more likely the top.
Advice remains the same for today short on a downward momentum change near the top of this range, go long for an upward momentum change near the bottom.
If you had traded the Bitcoin forecast as I suggested when momentum kicked in and closed on a reversal of momentum you would have had a 50% return over in just over a week (~2500% annualised).
Is now a good time to start trading Bitcoins? See what our expert has to say about it here.