Bitcoin Lower By 85 Points

12 Dec in Bitcoin, Blog, Bonds, commodities, currencies, futures trading, Mike Seery

Bitcoin Futures---Bitcoin futures in the January contract are currently down 85 points at 18,460 as this is a new contract that began in yesterday's trade as I will not give any recommendations at this point as we need to have some type of chart pattern to develop which will take several more weeks to occur as the volatility in this cyber currency is extremely high as that's what you're looking for as a trader so we will make this an active part of our repertoire.

Every point up or down in bitcoin equals $1 as we are down 85 points which equals $85 profit or loss as this market can move several thousand dollars in one day and is extremely volatile with huge price swings daily so start monitoring the situation as there will be special opportunities from time to time just like there are in many of the other commodity sectors.

The technical indicators at this time such as moving averages just don't exist as we need more data as we could be actively trading this in 4/6 weeks as this will be very interesting in my opinion on how this unfolds over the long term.



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