Lines of the Day 6/28

BITFINEX:BTCUSD   Bitcoin / Dollar
64 1 0
Pivot range has decreased which is indicative of less PA range potential for the day - Price is currently under P, but has touched several times off SM1 which may provide the support for another wave up - However it should be noted that it is rare for price to rise above P if it starts out below it. I am expecting a tight range bounded by S1 and R1 excluding any pumps either way by market makers.

Keep in mind Monday should reveal auction prices - It is widely believed that auction prices will be below current price and that price will rush to meet auction price. However, it is my belief that any bearish movement will not last longer than 2 days if any.

For the Record: I am long 10 @ 594. I have bids at SM1 and S1 for another 10 each as I look for more buying opportunities.

Related Ideas

long 10 added @ 594.92 - bid 10 at 590.84
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