On the BTC-e long-term chart, we haven’t seen too much change. Yesterday’s comments are still valid:
(…) we might see a bounce of the medium-term trend line. This would be a bullish development, but as long as the move is not confirmed by volume, increasing the size of longs might be particularly risky for your capital, and we don’t suggest doing it at this time, as we want to shield your returns from possible moves down.
It turns out that not increasing the size of the long position has been a good idea so far. We didn’t want to take on too much risk with the suggested positions, since we want our suggestions to be well-balance as far as risk/return is concerned. This stems from the fact that we want to provide you with the possibly most accurate analysis.
In the days to come, we might witness Bitcoin move more violently, as the currency is currently testing its medium-term. The fact that the trend hasn’t been broken and that we don’t have any particular bearish indications makes us more bullish than not at this time.
In our opinion, long, speculative positions might be the way to go now.
Trading position (short-term, our opinion): long, stop-loss at $550.