It’s been a while since I discussed Bitcoin and recently there has been some interesting price movements that I want to share with you.
This is what I wrote at the beginning of April: “For confirmation that a new uptrend has started, Bitcoin first has to set a higher low (> $152.40) and consequently a higher high (>309.90).”
The Higher Low was set @ 210, APR 14 and more recently, Bitcoin has made (medium term) Higher Highs @ 317.99, JUL 12. The support in the 280 area should hold to indicate further short term upside potential.
As I have mentioned before, I only have 1% of my portfolio invested in Bitcoin, partly for fun and partly for the Long Term as it might come in handy for the future.
Click here for the full analysis and chart of Bitcoin.