Day trading isn't really possible with Bitcoin imho. Of course you can trade, but trying to apply traditional analysis methods is useless. There are 2 good reas

Day trading isn't really possible with Bitcoin imho. Of course you can trade, but trying to apply traditional analysis methods is useless. There are 2 good reasons for this: 1) the volume is (still) very low, and a lot of wealth is in the hands of just a few people, meaning that they can single-handedly let the market crash. 2) most of the people who have bitcoins don't even have experience with trading, yet they're trying to trade. This results in a very, very unpredictable market because a lot of people will panic sell and take unlogical steps that a professional trader would never take. It also means that the price is mostly driven by hype, not by any fundament. I think most traders will stay away from bitcoin untill it's a bit more stable. Personally I'm very bullish, and I'm in with 3.2 BTC, but just don't expect that your knowledge of trading is applicable to bitcoin trading, it's very different.