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.