Bitcoin Update April 25th

Bitcoin: Long-Term Buy (update)

 

Bitcoin, 4-Hour Chart Analysis

Bitcoin has been edging higher towards the $1290 level so far this week and traded as high as $1275 today. Volatility is expected to rise in the vicinity of the prior all-time high, and long-term traders could consider taking some chips off the table and leaving a core long-term position with a wider stop-loss.

Short-term traders could also move the stop-loss higher in anticipation of a break-out to new highs. The $1230 and $1215 levels might be good choices as the new stop-loss. Trading volumes are relatively low, but activity will likely jump in the coming days.

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Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.