A slight refinement of last weeks "chop week" idea
Last weeks choppy BTC idea (
) has played out damn well and will hopefully continue to do so.
If we bounce here then it's highly likely we will get a sell off in box A followed by a retest of level B. If B then holds we're cleared for more upward momentum. Failing level B and we better hope the 5.8k level holds us!
If we don't bounce now then I'll be layering buy orders in for a bounce at 6260 and then the above stands, just with a slightly lower B level.
If we bounce here then it's highly likely we will get a sell off in box A followed by a retest of level B. If B then holds we're cleared for more upward momentum. Failing level B and we better hope the 5.8k level holds us!
If we don't bounce now then I'll be layering buy orders in for a bounce at 6260 and then the above stands, just with a slightly lower B level.
Trade closed manually:
Oh well, support turns resistance and it looks as though we will test the bottom.
Comment:
Could it act as support again!? if we can hold above that red area then we might be looking at 8k over the coming week or two.