BITSTAMP:BTCUSD Bitcoin / Dollar
Grape trend indicator is telling us to stay short from about the $515 level, and we're watching GRIB for a reversal at resistance, or a break out to what will likely be more sideways. The Yellowish bat is the weaker of the two, having only a .37 'B' point retracement of the XA move. Bat patterns require a .382 or a .50 fib level retracement of the XA leg. The Red bat has a solid .50 'B' point and is where I'll be looking to get long with a smaller position on this trade. TP @ next $494.