ForecastCity
Long

Excellent Long-Term Hunting Opportunity in BTCUSD, Don't miss it

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Trading suggestion:
There is possibility of temporary retracement to suggested support zone (13275.00 to 11339.85), if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

Take Profit:
TP1= @14991.70
TP2= @16384.30
TP3= @17112.55
TP4= @19704.20
TP5= @Free

Technical analysis:
.Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. Relative strength index ( RSI ) is 51.
.Current short-term is range bound, but resumption of uptrend is expected.
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IT SEEMS 14K NOT HOLDING ...
Reply
IT SEEMS 14K NOT HOLDING ...
Reply
@ghose12, An important resistance would be ~15K.
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ghose12 ForecastCity
@ForecastCity, important resistance means ,it should mean that it is new or we not passed it more than one time..if u can see we have shooted 15k like a shit..but 15.5k acted as some good resistance..the main resistance is 17k and 16k too..if these two are successfully taken off then u can see ATHs..iif not lazy market for bitcoin always like falling from cliff...
Reply
@ghose12, The importance of resistance/support is determined by the quality and quantity of market reactions to it, in addition to technical factors, like Fibonacci levels.
The symbol has no trend currently, so both supports and resistances are important now, of course it is not as important to decide for a trade, but they has enough importance to be a target.
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