[2015-01-26] Bitcoin Value Reclaims Lost Ground

[zakoliverz]

https://www.cryptocoinsnews.com/bitcoin-value-reclaims-lost-ground/

BTC-China has reached the top of the channel formed by the advancing wave. This price level also corresponds to a 1.618 extension of wave A which is a characteristic Bitcoin price target in corrective wave structures. Price may exceed the upper channel trendline in some charts – and sometimes undershoots it in others. We have no evidence that indicates what price may do as it tops out across exchange charts. For now we hold out for our target $260 and manually adjust our stop loss to a recommended $2 (trader discretion) below the 15-minute 20-period moving average until target is hit or correction stops out the trade for a profit.