MTGOX:BTCUSD   Bitcoin / U.S. Dollar
1
Watching Bitcon over the weekends has turned into a fun past time it would seem...In what appears to be a very orderly harmonic resolution, BTCUSD is 'consolidating' after a significant upside harmonic price objective hit. A pattern of lower highs and lower lows has established a downtrend line off the 2hr chart and until we resolve back above it, I for one shall be reluctant to be a buyer. Those wishing to be adventurous could consider shorting opportunities on tests of that line and coincidentally, our good old OTE short ss just so happens to be sitting right around that neighborhood. Ironically, that level at the moment is almost exactly the original bull ab=cd price target. Conversely, I have highlighted two significant OTE long sweet spots that are working at the moment......cheers all and happy trading....

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.