Bitcoin XBT Stops Update and Next Trade Points from HereBitcoin Bitmex Update
Not much has changed overnight. It was still a buy on tests of the 7355 line but only for scalps...
If you bought on the second test of this level overnight raise the stop to 7438 for now.
The spikes above price suggest it's still not wanted much above 7500 so far.
The rest stays the same for now, a repeat of yesterday as nothing has changed yet.
On Bitmex feed it's still effectively stuck in the range bounded by three lines of important resistance
at 7615 and 7683 and 7741 and one line of support at 7265, which now needs extending to cover
the spike low.
Whilst inside the range it looks like scalping opportunities at best for now.
Buy on dips towards the 7355 nearest support line with stops just under 7350
looks to be the best option for those looking to trade this inside the range from here.
For others, an eventual break either side of the range should be worth following more aggressively.
Has to break above 7750 on high volume to follow long looking for 8600.
And on the downside has to break below 7240 on rising volumes for next good shorting opportunity,
looking for a retest if 6819-6792 range where it should bounce again if tested.
But until then it looks like we remain limited to scalping opportunities inside the range
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