EM16
Long

Bitcoin - Going higher if EURUSD does the same ! Above 11k!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin is in a 3 waves correction for now, which should come to an end very soon,
maybe around the 78.6% Fib retracement level (or even right away…)

Bitcoin and EURUSD have been in a somewhat good correlation for this last few months and both are pointing towards higher levels.

The ECB Rate Decision and press conference tomorrow will probably be the cataclyst needed to get things going here.
Markets should get pretty quiet for the coming hours as participants will want to wait for the ECB.

I suspect the rise to be only temporary but you can have get a nice trade out of this nonetheless.

Upside targets 11.300 and 11.700 with Invalidation below 9400
(If for any reasons we continue above 12k, just keep it and move stop every now and then)

Once this upside move is finished, we should see price go back below 10K, which should be the last buying opprortunity before we (hopefully) see price go to the moon!



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