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Block-Head
Sep 16, 2018 8:56 AM

Short term Long from lower channel Long

Bitcoin / DollarBitfinex

Description

Bitcoin has found support off bothe previous resistance at 6450 and lower ascending trendline providing a nice opportunity to go short-term long.

  • Rejection of SR level
  • Support of ascending channel
  • Bullish divergence


Target: 6730

Trade closed: stop reached

Bears finally got the better of bulls. Disappointed in myself for not pulling out of this one sooner as I saw the warning signs.

Bitcoin was failing to break above the Fib 38% level with progressively lower lows and lowering of momentum before eventually breaking the trendline.

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