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Retested

BITCOIN: BTCUSD Inverse Head+Shoulders' Necline being RetestedBitcoin Updates Bitfinex Bitcoin finally broke higher at the highly inconvenient time of 01:55 Bst 20:55Est. For those lucky enough to be around for it this triggered a long from " the break above 6500 for a scalp to 6616. If volume stays low look to close down a little below here . The 6616 line is the neck-line of the still smouldering IHS. Any break above here on rising volumes can be followed long again with stops under 6600 looking for 6892 initially, then 7144 and 7400 in 3 potential long trades or stages." Well the volume shot up and the high on Bitfinex and Coinbase and a few others was 6899. No stops were hit on the way up. Between 300 and 390 points of profit so far. It's been a long wait for a decent break. Just hope US players managed to get on it even if Europeans got left behind on this one. Since the high it's fallen back to the first line of support at 6630 after spiking below it to 6600 and is trying to build a base from here after a spike lower and a second retest of the support line precisely. Ideally for the bull case to hold good (and the IHS too) it should come back one more time, coming close to the 6630 line and hold there before the next phase of the rally kicks in, as above. Any failure to hold at 6630 -6660 will tip it back into near term bear territory who will likely force price back to the 6530 line again where it should bounce higher when tested.
BITFINEX:BTCUSDLong
by sumastardon
2