Want to know where BItcoin is heading? Follow the dollar...
If the dollar has peaked, bitcoin has bottomed...
It's really pretty simple to trade bitcoin longer term, you simply follow the chart of the dollar.
When the dollar peaks you long bitcoin.
Don't believe me?
Check this out:
It's even more apparent on a day by day basis..
On the days the dollar is down, bitcoin is up, and vice versa.
So, now the question becomes, has the dollar peaked?!
My guess is that if the fed really is slowing down on their rating hike, which I think they are, the dollar is probably in the process of peaking, though it won't go straight down as you can see on that chart above...