CRInvestor

BTC 15m analysis (short term view)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Out of sheer demand for more short term analysis, I thought I would take a few minutes & dissect the 15m chart today. Just so you all understand, my personal holdings are relatively limited and because of this fact I am trading my account off the higher time frames. Full disclosure - I am currently still long 1/3 of my buy at $459 per my published posts and don't have any plans to liquidate that over the short term. Indeed, I would consider pullbacks as buying opportunities going forward. Regardless, for those with deeper pockets and can make money on the shorter term swing setups, here are my thoughts. 1. Nice double bottom within double bottom long setup here at 640. 2. Initial targets ( OTE short sweet spot) hit. Consolidation post OTE short sweet spot tag setting up next trade. 3. Break of recent trading range (noted on chart) will lead to next trade. Momentum/Volume currently support long resolution. Should that occur, target will be top of trend channel and serious test of previous highs. If trading range fails targets will be serious test of original bottom at/near $640...

Cheers all and I hope my simple analysis is of benefit...

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