Cenotaph
Long

BTCUSD buy on bounce off 6800 price level

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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
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