Bitcoin Market Update – 31st May 2015

BTC2015.05.31 So last week we saw a rapid move up in the LTC market which we wanted to see hold and consolidate to confirm what our next action should be.

Well, over the past week it has broadly held the spike up and has also seen the 5% retracement needed which extended for a minimum of 1 week. We are now in a good setup for a potential long position in the market.

What I want to see next is to see bitcoin break and close above the 244.50 level (BTC / USD 12 hour period close). I want to see this confirmed by a break and close above the 1.883 level in litecoin (LTC / USD 12 hour close).LTC2015.05.31

Note – I want confirmation on both markets before pulling the trigger. If we get that confirmation I will be taking a position in both markets (75% into BTC / USD, 25% into LTC / USD).

Follow our twitter feed to get real-time updates of market confirmations and trade actions.

Good Luck

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