krokotar

Bitcoin short term important levels

krokotar Updated   
BITSTAMP:BTCUSD   Bitcoin
It will have to decide. Was it a correction ABC or ABCDE correction.
Comment:
Expertly denied by the previous uptrend line. I suspect testing of the lower green cloud before continuation towards ATH.
Trade active:

For now everything according to plan.
Trade active:

Today India decided BTC is official legal, pushed it to next trend line.
Trade active:

Bounced right of the channel.
Comment:

If purple channel fails I would be able to say that we are out of bull trend.
Trade closed: stop reached:

My blue line held. If breaks, channel line next.
Comment:

This triangle is make it or brake it. Technically price action reminds of a typical 4th wave, which means we are still to see new highs.
Fundamentally, BTC should top out at the end of next month.
Comment:
Comment:

I would say bull has 66% chance and bear 33% chance. Big vertical red line is SegWit activation. Big risk where you should be out of long positions.
Trade active:
Have my long in since (E).
Lots of stop losses from bears on 2595. If we break 2600 we go moon.
Trade closed: stop reached:
Closed long yesterday when it was obvious that we were in a bull trap.

2200 seems like a good support to hit

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