BITCOIN: BTCUSD
A fantastic day for bulls of Bitcoin has seen it rally back
towards the highs. No stops we hit on longs and after
problems gettting long here on Thursday and staying with it
before stops got hit. Friday was kinder, steadier. We are
many hundreds of points to the good here and need to protect
profits now...See those 3 fantastic continuation patterns it
hammered out during yesterday? Two strikes = 'hot' . All
three times. These are the signals we need to familiarise
ourselves with for the future..if you can
spot these you have a key to the future...For day traders the
nearest support is close at hand, at 11050 - failure here will
mean a quick fall to 10970 - and should that fail it will
comeback to 10638 where it becomes a buy again.
And if Bitcoin can hold up here at first support/11050 it will
then go on to test the high at 11390 - look to close out longs
here and only re-enter long on a break of the highs by 90
points looking to buy again on successful retest with stops
below 11200.
Swing traders who got long from much lower (9400-9500) are
showing about 1600 points of profit now in 25 hours ...use
11000 as a
stop, just under and buy back at 10640 if stopped out now.
Day tarders can use the upper paraallel of the top flag on the chart ...just UNDER 11000