Bitcoin Market Update – 4th July 2015

Hi everyone,

It’s often when things are going your way that there is the biggest temptation to do the wrong thing. We have just entered a primary bull phase and are showing a profit on our long positions. Because we have been in such a long drawn out down phase followed by sideways action the temptation is to take that profit and run.

While I may regret this later, now is the time to hold that long position. It may be wrong for one trade or two to hold a position for a prolonged trend,  experience tells us that, in the long run, we make more by sticking with the trend.

Were currently long the BTC/LTC markets and nothing has happened this week to shake that position. LTC (current market leader) is in a primary and secondary upswing. BTC, this followed LTC and broke above the previous primary high this week so also has both primary and secondary trends pointing upwards.

So how are our trades looking?

Market Position Avg Price Mkt Price Cur P/L
BTC/USD 3.02713 247.76 256.89 USD $27.64
LTC/USD 88.37045 2.8290 4.079 USD $110.46
TOTAL USD $138.10

Good Luck.

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