I think this is a fine opportunity for a high r/r trade as
BTCUSD
is poised to take a stab at the 6750-6800 resistance. I was actually short a couple days ago but covered as btc spectacularly failed to breach 6200 and I got a DMI signal to long the daily. Since then I've seen volume picking up, with bulls defending 6330-6300. Also the gdax/bitstamp state of the orderbook and orderflow inclines me to be bullish above 6300.
BTCUSD
is currently trading in the support of the previous range and I expect a double bottom to form at 6330 in the coming hours. I'm already long the deribit swap since yesterday and closed a bit at 6350~, but generally nothing much is happening. It's likely that the market will remain stagnant till monday. Entry - 6330
SL - 6285
TP1 - 6445 15%
TP2 - 6485 15%
TP3 - 6645 30%
TP4 - 6745 30%
TP5 - 6790 10%
Comment:
While gdax volume has been all but dead today, and bitstamp leaves a lot to be desired- on the other hand, bitfinex bears and bulls have been duking it out for the last hours. Btw this is the first time in several weeks that coinbase and bitfinex have established price parity, however short lived that was.
Comment:
BTC is indeed sleeping for the weekend. I expect a move in 15 hours.
Comment:
Bitcorn fell short of 6450 on gdax, but reached it on bitstamp. On the other hand bitfinex smashed through 6500 but retraced to mid 6450s. I think it's now going to retest the hourly high.
Next stop 6490.
Next stop 6490.