DK_Investment

Bitcoin party hasn't started yet - market near major resistance

BITFINEX:BTCUSD   Bitcoin
Today there was great news for the crypto market and bitcoin. The Bakkt future has been approved and is expected to start first tests in July twitter.com/Bakkt/st...1127938136070328322. Many investors have been waiting for this. Another great news is that Starbucks, Nordstrom and Whole Food accept now bitcoin as payment method (www.forbes.com/...-dont-ask-them/?ss=crypto-...)

But:
The market is close to a significant resistance (8000-8200$) and must first overcome it so that bitcoin is above the long-term trend line again, only then I see a real chance for an upward trend as soon as the weekly candle closes above the trend line.RSI is already heavy overbought which indicates an soon small correction.

If the 8200 $ resistance breaks up the next stop is near 10.000 $ and the party can start :) . If the current weekly candle close within or under drawn resistance I expect first another retest of 6000 $ area before next bigger up movements.

Short from 7950 to 8100 $ with stop loss above 8400 $ - take profit 1 --> 7100 $ & take profit 2 --> 6200 $
Trade active:
short trade is active
Trade closed: target reached:
trailing stop

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