Bitcoin is continuing to make a nice recovery after the severe market reaction to the news out of China. We are sitting nicely above the 80 period MA, and I am currently in a long position on Bitcoin which is making steady gains. I do like using the 80 period MA for trading on slightly higher time frames (where I typically hold trades for 12-48 hours instead of 30-60 minutes) as it seems to consistently serve as an accurate indicator of trend. The idea is to go long when the price crosses and closes above the MA, and to go short when the price crosses and closes below it. See linked post.
