josephcy95
Long

Bitcoin consolidation after a new all-time high at $7354

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
After a nearly $2000 bull run from the last low, we're seemed to reach the bull volume climax, and now in an equilibrium pattern. A few hundreds pullback from the last all-time high is a consolidation, which you can see it clearly on the daily and 4-hour time frame, everything still looks healthy. We are definitely still in a bullish trend , but I will not enter any position until there's a signal of a stronger trend.

Support/Resistance
At the moment we have $6971 as support, which is in line with 0.5 fibs, there are 3 attempts that failed to close below this level. $7082 is acting as resistance, 3 attempts failed to close above as well.

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Comment: Bitcoin broke $7082 resistance by closing at $7200 on 4H chart, now I'm watching 7340 resistance on 15m chart
Trade active: BTW, I've made a very small position (>5%) entry on the last five 15m candle, around 7034 on Bitstamp, $6371 on OKEx quarterlies contract (Price difference due to people cash out Bitcoin for SegWit2X, the differences meaning the expectation on SegWit2X value.).
Comment:
Comment: Set your trailing stop loss, let the profit fly! Nothing is better than knowing you have secured your profit and watching it continue to grow.

We've just set a new all-time high, both hourly and 15m chart have broke above upper bollinger band along with bullish volume to back it up.
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