Bitcoin Update
Although it's now testing the next line of support at 6312, unless a day trader would advise to stay short lloking for a
test of the lower parallel. Some day traders will close out here looking for a decent counter rally back to the last
support/new resistance at 6425, though the old trend line, now at 6390 may now prove so toxic that any rally is stopped
dead here, on the underside of the old dynamic medium term support line. For others, stay short for test of the lower
parallel...if we don't see a rally from 6312 it should happen around 1pm est, but if we get a rally first that will be delayed some.
If it does rally from 6312, others looking to short this who have missed part of the ride can look to get on at 6420 if seen.
Although it's now testing the next line of support at 6312, unless a day trader would advise to stay short lloking for a
test of the lower parallel. Some day traders will close out here looking for a decent counter rally back to the last
support/new resistance at 6425, though the old trend line, now at 6390 may now prove so toxic that any rally is stopped
dead here, on the underside of the old dynamic medium term support line. For others, stay short for test of the lower
parallel...if we don't see a rally from 6312 it should happen around 1pm est, but if we get a rally first that will be delayed some.
If it does rally from 6312, others looking to short this who have missed part of the ride can look to get on at 6420 if seen.