BITSTAMP:BTCUSD Bitcoin / Dollar
Not much to say about this little guy. We are likely to see a break out then retracement to the breakout level before the move continues. Price is being squeezed between the bottom of an old trend channel and the very solid support level of 495. Hopefully this means we're going to see some action soon.
We just barely missed our target #1. Hopefully you were averaging down your positions in a tight range to that level. (read as don't put all your eggs in one basket.) Two of my four positions got filled and I'm already short those again from 466. The leg on the 1 hr came down to 438 from 505 and has already retraced to .382 of that move without breaking the .50 fib. Indications are good for at least a retest of the low. We'll see if we can get target #2.