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Long

Short term buying opportunities on the Daily

KRAKEN:XBTUSD   XBT / USD
Were looking good for the coming days until we hit the expected resistance zones. There's a nice buying opportunity to the first resistance of the trendline which has been in play since January.

I expect we will hit the trendline sometime Friday, Personally I'm long until then. I think we'll be testing $9,750...

After that we have 2 possible scenarios that could play out.

1. We hit the trendline and can't close above it.. I don't know if this resistance will continue to hold even though it has proved to be strong in the last couple of months.

2. We close above the trendline , I'd like to see 2 candles close above it that way I see a quick run up to the next resistance in the $11,500 area of the last swing high & coinciding with 100 day moving average....
So if we have strong closes above the trendline I see a buying opportunity to $11,500 area but be careful!!! Always keep a close eye on your positions and have adequate stop loses in place......
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