BTCE:BTCUSD   Bitcoin / U.S. Dollar
314 7 3
Self-explanatory short. This center-line has served fairly well. Note how price usually never stays exactly on the line but fluctuates back-and-forth on either side. Center-lines can be thought of as picket fences in that sense.

In light of the current considerable downward momentum, I suspect price will simply come up for a final touch of this line, but fail to get onto the other side of the "fence". If it does, stops do not need to be far above 550.
This may take some time to play out indeed, especially if we get low-volume weekend conditions. Not unheard of. But then again, weekend crashes are no rarity either... staying alert! Stops above 560 if I enter shorts near the center line.
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FrancisKim CryptoBanker
+1. Thanks.
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Agree with both of you CryptoBanker and FrancisKim. I give it a day or so before heading south again.
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FrancisKim DanLaffas
Right at this moment though, going long is probably a tough call. Good thing I entered near the floor. I actually think even for the next week, there could be an upward trend. The Chinese have just over 2 weeks to trade - they'll keep playing the game.
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DanLaffas FrancisKim
Yeah, it's not enough room for a long from here. I still have 1/3 of my short from $600 left open. I'll just add to it as we round out the top of this move over the coming days and ride it back down
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well short if you are looking at the next week but probably a long in the next 24 hours or so imho.
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Failure to reach the center line one more time would be even more bearish but could pose problems for finding a low-risk short entry.
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