FUTURE RESISTANCE LEVELS FOR PROFIT TAKING Long

Bitcoin / U.S. dollarBitstamp

Description

⋅ Oct 9, 2014 11:59 PM

Hello fellow traders!

The red lines signify support levels that are likely to become resistance levels in the days and weeks ahead as the price trends upwards.

Resistance levels to look out for

$424 Tested as support

$467 very well tested as both support and resistance - price may bounce around a bit between 467 and 424

$544 tested as support and resistance

$558 tested as support and resistance

$621 well tested support and resistance

These levels are very similar to those on Bitfinex

I am very new to technical analysis so I welcome your constructive feedback :-)

Comments

NightWish1

⋅ Oct 11, 2014 5:03 AM

i do think we could potentialy go down for a last leg to 250usd after hitting 525-ish

NightWish1

⋅ Oct 11, 2014 5:00 AM

Very helpful, thank you

K155MY4R53

⋅ Oct 10, 2014 4:46 PM

Nice work. I think we might pass the bottom en route to these levels though.

longbearcrypto

⋅ Oct 11, 2014 7:19 AM

Thank you :-) I agree. Perhaps we will test 300 again before reaching those levels? as there isnt a great deal of tested support below this pricepoint. for the past 3 days we havent closed above 365. I think we may see a big candle move either way in the next few days