MatthewCrm

BTC/USD Long Position

Long
MatthewCrm Updated   
BITSTAMP:BTCUSD   Bitcoin
having spent the whole of my lockdown journey studying Bitcoin, I think I'm almost getting to grips with it. you can see my position earlier today on the chart, predicting the spike upwards after some consolidation. Now though, we should see something similar except a larger upwards spike - before that however we will see bitcoin clear out some long position by stopping them out - most likely retesting the marked grey untested area around 9080/9090 and then heading back upwards. I will be looking for a long position somewhere around there, the "untested area" was broken on the upwards spike however Bitcoin should have reacted to that area, meaning the reaction is yet to come - however not guaranteed but that is the plan as of now, a break above 9232 would suggest a break to the upside - a double top at 9232 or a break below bottom of grey marked box would suggest a break to the downside.
Comment:

small error on the chart up there, the rejection at 9300 was anticipated and was where the first TP would have been. Still think there's more to give - same idea as up there
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