BitPay announced that it will soon be launching Truecoin ATMs at NCAA college football games. Bitpay representatives stated that this should enable Bitcoin to become a mass-market currency, as many merchants now are accepting Bitcoins. Fans at these games will now be able to experience Bitcoin shopping first-hand, which is a fantastic way of introducing users to the Bitcoin world.
BTC/USD finally broke above the $371 level thanks to above average volumes, which industry experts consider to be tremendously beneficial for the crypto-currency. The price-action in the overnight session saw the BTC/USD move above the important psychological level of $400. In today’s early morning session, it rose even further, which is of course a very positive sign for the digital currency.
When looking at the daily chart, the next level of resistance for the BTC/USD is coming in at around $461 while its support is now shifting higher to levels of $400. The stochastic oscillator for the BTC/USD is continuing to trend higher and is showing no signs of a reversal, which is indicative of strong buying interest present at current levels. Meanwhile its momentum indicator has moved into bullish territory and is giving no indication of reversing. Lastly, the BTC/USD demonstrated its ability to rise above its important 50-day moving average of $360, something in which all leading analysts view as good sign.
Long the BTC/USD at current levels for an intermediate target at $461, with a stop loss below $418.
Short the BTC/USD if it falls below $400 for an intermediate target at $371, with a stop loss above $421