BillCharison
Long

BTC - DAILY UPDATE | What position should you open today?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
What can we see today on Bitcoin chart? The price has twicely tried to break through the support, both time unsuccessfully. After these actions, the right shoulder of inverse H&S pattern was formed and the price went upward. At the moment I expect from $BTC to trade above the resistance $5800 and then going further. In case the price will move downward - we need to keep in mind two zones: the first one is $5650, it is quite good for buying and opening LONG position. And the second one is located below the support $5550, if the price falls below this level - you we would start thinking about possible SHORT position.
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