Long

Long on Bitcoin

Updated

I think this is a good chance to go long on Bitcoin. It has found some support around 7250 after dropping below the 7350 support. It has a double support as you can see in the chart, a good stop would be around 7200. If it drops under the 7200 i will turn and go short!

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First target is 7500, but there will be resistance at 7450. If it breaks through this level, there is a big chance it will make another attempt for a new ATH

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It is still hanging in there. I thought it would have bounced further up the first time, so its less strong than i thought. But the support lines i mentioned are still showing strenght. But when it drops below them, expect an acceleration down

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I have cut my losses to and got out at 7240, i was ahead 100 points but to my surprise there was to much resistence around 7400. I have turned short now, because its looking to weak. No buying power/or bounce seen, so it will drop even more

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I am out at 7100, turned my loss into a win again. This is tricky now, it can drop much much more, but there are other uncertain things going on

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This is what i mean with a bounce, short term low is probably set now. I am staying flat for now and waiting for new signals

botje11

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