Weekly Bitcoin Analysis — March 12

2016-03-12Release

Bitcoin has risen about 12USD over the last week, closing at 419.9USD (~3275 HKD).

We expect Bitcoin to stay in the range of 400–420 USD (3120-3275 HKD) for the short term. As for a mid to long term trade, we anticipate that Bitcoin will continue to have stable growth in the coming month. Would be a good move to start accumilating at around 405USD (3200 HKD) and close out a portion at around 450USD (3500 HKD). If we have a successful breakout at 455.6 USD (3540 HKD). We may reach 600USD (4700HKD) as mentioned in last week’s post.