Trader_97

BTC TECHNICAL ANALYSIS

BITSTAMP:BTCUSD   Bitcoin / Dollar
85 0 2
Last week we closed around the 382 mark.We may continue to trade in 350-398 range if we don't have a clear breakout .Minor Support levels are (1) 353 (2) 334.50 and minor Resistance levels are (1) 396 (2) 404. We got pretty close to the 0.764% Retracement level last week but found support above it slightly.Prices still trading above the 100 DAY SMA & 50 DAY EMA . Wait for the price to breakout of the range and close below 0.764% area to Short it.We continue to trade above 0.618% Retracement area we may see an extension to this upside move.A breakout of the range and close above the 0. 50% Retracement level would be a nice opportunity to try Long.Keep in mind that we have some resistance @ 422 area as well as @ 448.50 area
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