BTC/USD, You Don't Get Much Better Opportunities to Get LONG!

XBTUSD.P after finding some resistance right around the equilibrium of the 1-Day Pivot, Bitcoin has dropped back down to test the previous range high which we hope to hold as support.

If the bulls are to remain in control, they need to protect this level for the time being.

Not using full position size as this is somewhat of a risky trade, but I expect to see some sort of bounce here.

As soon as we clear the old range high of $6640, I will most likely move my stop-loss up to around break even in case we see further downside.

If that is to happen, I will be looking to short any potential bounce and will post a new chart.

Comment:

Correction: Weekly Open should say "Previous", I forgot to re-label yesterday after the weekly close.

Comment:

Well that was a quick stop, on to the next one.

Trade closed: stop reached