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stupendelious
Jul 29, 2017 1:38 AM

Bitcoin Broke A Trend Line, and then Returned Through It Long

Bitcoin / U.S. dollarBitstamp

Description

This is a really risky trade that I personally am not going to take but with this position that it is in right now, I believe if segwit goes well and the networks remains intact that Bitcoin will sore very high soon. It is very bullish if a currency breaks a month long trend line and then within days returns above it! Hope some people can make money with this! Also RSI shows room to move up so might be good. Happy Trading!
Comments
mytorc
Agreed returning to higher trend line so soon does appear bullish - or alternatively does the fact that it broke once so dramatically indicate its underlying weakness? Also agreed on long term prospects fundamental permitting, but for me the risk of it first revisiting lower support levels $2600 - $2200 (or lower) remains high.
nafnar
Thanks
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