CrackingCryptocurrency

Bitcoin Update - booking profits and waiting

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
After a nice markup phase, Bitcoin is currently stalling out.

Above us we have the resistance of the 200 daily simple moving average . This is a tough nut to crack.

Time transformation, one of our primary momentum oscillators, just printed a bearish cross under and overbought territory. This is considered a sell signal.

Rather than exiting my entire position, I am going to take partial profits here, update my stop loss, and wait for price to break out of this range.


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