Bitcoin Next Trade Points from Here
Hard grind right now but hoping for a decent trade when we finally get a break of the bigger flat wedge formation - or larger triangle depending on the eye of each beholder.
Largely neutral inside the triangle though.
A break below 6529 on Bitfinex needed to flip short back to 6380-6337 range at least and more likely to 6122 again once 6337 is broken.
And on the upside initial resistance is at 6666 - once it moves above here it should rally to 6738 for a small 70 point scalp.
Depends on volume or lack of to make
the next decision from there, whether to stay long or close out....if volume starts to rise can risk staying long back to 6839.
The big break to the upside will trigger if this level can be retaken and held by the bulls later on today and into this week on rising volume.
It should then be worth following long again for 500 points or so to 7342 -7420 range.
But until we see the pattern broken we need to stay patient for now. It's been hard work the last few days. Hoping that patience will have its reward soon though and a decent trade will be triggered fairly soon as a result.
Hard grind right now but hoping for a decent trade when we finally get a break of the bigger flat wedge formation - or larger triangle depending on the eye of each beholder.
Largely neutral inside the triangle though.
A break below 6529 on Bitfinex needed to flip short back to 6380-6337 range at least and more likely to 6122 again once 6337 is broken.
And on the upside initial resistance is at 6666 - once it moves above here it should rally to 6738 for a small 70 point scalp.
Depends on volume or lack of to make
the next decision from there, whether to stay long or close out....if volume starts to rise can risk staying long back to 6839.
The big break to the upside will trigger if this level can be retaken and held by the bulls later on today and into this week on rising volume.
It should then be worth following long again for 500 points or so to 7342 -7420 range.
But until we see the pattern broken we need to stay patient for now. It's been hard work the last few days. Hoping that patience will have its reward soon though and a decent trade will be triggered fairly soon as a result.