Bitcoin BTCUSD
Bitcoin rallied to meet the previous peak prior to news of the
lastest hack on Thursday night, precisely on Bitfinex chart,
before falling away again. Right now it's neutral as we await
the next trading signal to trigger as Bitoin moves towards the
apex of the triangle and hopefully reveals its hand so we can
trade off that signal when it arrives.
If at any point the lower dynamic support line gives way and
then 11100 breaks Bitcoin will likely turn negative and trigger
a short back to 10750 at least, and if this gives way back to
10497 where it will become a buy again if touched later
today.
And on upside it has move up above 11230 to trigger a long
with stops under 11100 - resistance levels at 11336 and at
11438 then need to be broken and only when we see this will
Bitcoin begin to attract more buyers again for move up to
11646 and on up through the restsance levels above it to an
upside target at 12950.
It's still positive whilst above the big rising dynamic but slow
and lacking interest, and hence neutral now. So we await the
next signal for the next trade here, as above.
Bitcoin rallied to meet the previous peak prior to news of the
lastest hack on Thursday night, precisely on Bitfinex chart,
before falling away again. Right now it's neutral as we await
the next trading signal to trigger as Bitoin moves towards the
apex of the triangle and hopefully reveals its hand so we can
trade off that signal when it arrives.
If at any point the lower dynamic support line gives way and
then 11100 breaks Bitcoin will likely turn negative and trigger
a short back to 10750 at least, and if this gives way back to
10497 where it will become a buy again if touched later
today.
And on upside it has move up above 11230 to trigger a long
with stops under 11100 - resistance levels at 11336 and at
11438 then need to be broken and only when we see this will
Bitcoin begin to attract more buyers again for move up to
11646 and on up through the restsance levels above it to an
upside target at 12950.
It's still positive whilst above the big rising dynamic but slow
and lacking interest, and hence neutral now. So we await the
next signal for the next trade here, as above.