BTCCNY: Daily is neutral here, weekly bullish
Updated
I'm monitoring the daily chart in BTC. We have a new fundamental key level to add to our arsenal.
We need to see bulls form a daily low, that on close, sits above the 4828.24 mark asap, to signal that the capital controls news isn't killing the rally. This might take a couple days.
For the time being I'm holding a 15% long position in BTC, and looking to trade short term dips without closing this core position, and rebalancing if need be.
Good luck,
Ivan Labrie.
We need to see bulls form a daily low, that on close, sits above the 4828.24 mark asap, to signal that the capital controls news isn't killing the rally. This might take a couple days.
For the time being I'm holding a 15% long position in BTC, and looking to trade short term dips without closing this core position, and rebalancing if need be.
Good luck,
Ivan Labrie.
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Notice that the pink support level held and that we're retracing.Let's see if we move above 4828.24 next.
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coindesk.com/bitcoin-software-version-0-13-1-release/This will be interesting.
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Very strong move so far, if we hold above the resistance it might keep trending in a stable manner.Comment
Support holding, and not a single daily high under the news key level, means buyers are in control. Daily RgMov trend shifted down though, so be careful.
Weekly is still up, this is usually a buy signal for longer term players.
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BTC is closing above the news key level it seems...if it stays above, it'll keep going up. Holding long term 15% stake.s3.amazonaws.com/tradingview/snapshots/v/VDdPcNzA.png
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s3.amazonaws.com/tradingview/snapshots/j/JE3erGmA.pngAnd bingo, we're heading higher, if we close above the recent high, and see price form lows above, we'll be headed towards 6555 next.
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(I had doubled my long at 4918 or so)
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