Our positions were established at 2.829 in LTC and 247.76 in BTC. For the purposes of this series of articles I will assume a starting balance of $1000 so we have moved $250 into LTC giving us a position of +88.37045 LTC; $750 into BTC giving us 3.02713 BTC. No short or leverage so no financing charges.
Current $ P&L of positions, BTC (246.98) -$2.36, LTC (3.025) +$17.32, Net +$14.96
As discussed in the trade alert we now have a confirmed Dow Theory signal applied to Bitcoin which is indicating the start of a Primary Bull Trend. because of the nature of the market primary trends are not the 12-24 month+ trends expected in the Stock Market, we expect primary trends in the Bitcoin market to be 2 month+ in duration – but there are no guarantees so monitor the market closely.
Our view is that the current bull action is invalidated if BTC/USD closes below 222 on a 12 hourly basis, confirmed by LTC closing below 1.6050. We will only exit our long positions if both markets confirm the failure.