$240 is important daily resistance and the price appears to be forming an ascending triangle, getting ready to break upward. A clear break is at $243 or so on volume. If this happens, I'll ride the trend until it fails.
Looks like a fakeout. Was a good trade if you knew when to get out, but not an effective long-term idea.
Noobincrypt
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yah i made the mistake thinking buying at support, only for it fall through today
MoonTrader
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Yeah, this is not a good trading environment right now. I'm leaning bearish but staying in fiat for now.
Noobincrypt
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me too, last auction announcement was 3 or so days down, followed by a rally... ill wait to see how this plays out, 2 days its friday, maybe friday and/or weekend dumps will be in order.
blackswan
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wise choice, with canada getting hostile and 7k bitcoins floating around i think it's better to stay in fiat atm...
ChartArt
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The 1 minute chart tells me this is going down right now, but I could be very wrong.
MoonTrader
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What's that based on?
ChartArt
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pattern recognition of my brain, but I was wrong
FredBastiat
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Also anything less than the 15 minute chart tends to be pretty useless with Bitcoin, IMO
ChartArt
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The 1 minute chart right now. I added the Fibonacci resistance areas after my comment above.
I'm not bull yet. I want to avoid to get played again by buying the potential top here:
i.imgur.com/Hd1Z2et.png
Looks like a fakeout. Was a good trade if you knew when to get out, but not an effective long-term idea.