I posted a few days ago and had personally taken my LTC position in the upper $50's. Regarding BTC I was watching the next resistance at $4189 as well as a couple more above that. We smashed through everything obviously so anyone with a stop buy set at $4189 or even the $4200's is very happy with their return. I was actually out of town and on vacation when this all occurred. I did eventually sell 15% of my LTC position for a nice 45% gain. Remainder is still in position and will let things hopefully settle out and begin to establish a better pattern to allow for appropriate stop losses.
BTC is trying to establish $4671 and last night $4787 as support with overhead resistance up at $5345 for the high of this move. These spikes were massive and quick gains so profit taking is expected which can give very nice re-entry opportunities if you did take some profit along the way up or just for opportunities to scale into positions if you missed the initial surge. Is the bear market over? Possibly. Weekly chart for BTC has finally changed patterns to get its higher high to go along with the higher low it previously established. Weekly must continue this stairstepping up pattern of higher lows and higher highs for daily and weekly charts to maintain this bullish momentum.
Just My 2 Sats!
BTC is trying to establish $4671 and last night $4787 as support with overhead resistance up at $5345 for the high of this move. These spikes were massive and quick gains so profit taking is expected which can give very nice re-entry opportunities if you did take some profit along the way up or just for opportunities to scale into positions if you missed the initial surge. Is the bear market over? Possibly. Weekly chart for BTC has finally changed patterns to get its higher high to go along with the higher low it previously established. Weekly must continue this stairstepping up pattern of higher lows and higher highs for daily and weekly charts to maintain this bullish momentum.
Just My 2 Sats!
