CapMoore

Bitcoin levels and trend

BTCE:BTCUSD   Bitcoin / Dollar
256 0 1
I don't trade this myself but was curious of the technicals. Weekly PP acts as solid
resistance with one long pinbar suggesting a taking out of previous low. Yet an upward
trendline supports PA. Price is contracting and getting closer to a break out. A close above
weekly PP expose horizontal resistance (red line) and downward trend line resistance.
A break below the supporting trend line exposes previous bottom above 550 and monthly
S1 at 466.
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