Ixess
Long

Bitcoin resistance and trendline broken, momentum building

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
3870 has built support at this key level, and with such a long-term trendline broken, this is the first strong, clear move up. Get out of shorts, and at least buy, but I am long. In the unlikely event that price dips below 3780, then look for signs of this being a fakeout. The USD prices for these levels are around $580 now and $565 at next lowest support.
Comment: This gave lots of time to get in during the pullback at the bottom. Now the trend is clear and holding this long until the top of this trend.
It is much better to have this signal before the pullback giving people a chance to get in. It is still on the other side of the trendline and is very calm doing exactly the same pullback it always does after breaking a key trendline. The price is in the possible reversal area and momentum is moving towards buy.
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When i pressed play there was mainly red candles. Afraid the momentum is not building anyway.
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