The new trend identified last week seams to be holding true. We have been and currently are facing strong resistance. These resistance points are about 9,543 (profit taking from new 4 month high) 10,000 (historical resistance) 10,500 (new higher high in a new 4 month trend.)
RSI, Stoch RSI, and ADX and DI have all switched from a slow drop to rising aggressively but Stoch RSI has not yet confirmed this change. Current momentum suggests we are going to continue up in a new channel that began forming on January 3 (bottom), and January 7th (top); confirmed on January 14th (top) and January 26th (bottom).
If Bitcoin can close a candle above 10,500 this will not only create a new higher high over a larger 4 month trend but it will remove all resistance barriers up to 14,500.
Current position is 100% invested.
Current Strategy:
Unless Bitcoin drops below the 200 day moving average. Hold.
If Bitcoin hits 10,500 Sell 50% position.
If Bitcoin hits 11,500 with strong upward momentum return to 100% invested.
If Bitcoin hits 14,000 sell 50% position.
If Bitcoin drops to 13,000 sell 100% position.
If Bitcoin hits 14,500 sell 100% position.
RSI, Stoch RSI, and ADX and DI have all switched from a slow drop to rising aggressively but Stoch RSI has not yet confirmed this change. Current momentum suggests we are going to continue up in a new channel that began forming on January 3 (bottom), and January 7th (top); confirmed on January 14th (top) and January 26th (bottom).
If Bitcoin can close a candle above 10,500 this will not only create a new higher high over a larger 4 month trend but it will remove all resistance barriers up to 14,500.
Current position is 100% invested.
Current Strategy:
Unless Bitcoin drops below the 200 day moving average. Hold.
If Bitcoin hits 10,500 Sell 50% position.
If Bitcoin hits 11,500 with strong upward momentum return to 100% invested.
If Bitcoin hits 14,000 sell 50% position.
If Bitcoin drops to 13,000 sell 100% position.
If Bitcoin hits 14,500 sell 100% position.