Cenotaph

BTCUSD buy on bounce off 6800 price level

Long
Cenotaph Updated   
BITSTAMP:BTCUSD   Bitcoin
Last few days have seen quite an explosive buying surge (~ 10 billion usd) in bitcoin, at this moment it's at a strong resistance level.

I'm expecting a good bounce off the 6800 price level (resistance becomes support) which will be a good test for the bulls.

Wait for the signal on the 6800 support level to buy into the next bull run.
Comment:
Around 9000 there's resistance, it might drop to previous support before it breaks
Comment:
Watch this level around 6800, on a convincing bounce we could see the start of a bull run
Comment:
broke passed the area of support, negative sentiment is still strong.
Comment:
It broke support, retest of 6600 support line and looking bearish
Comment:
We're still in the wedge, could go either way
Comment:
6800 is still a key support resistance level and a safe bet to place the buy order. A bit more patience
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.