Bitcoin Update
So far today Bitcoin has rallied to the next restistance line at
16447 after a high at 16487 but has since fallen away again,
coming back close to important support at at 15574-15485
(amended to cover yesterday's price action better). It's a buy
in this range with stops below 15450. Above here the trend is
still positive but any break below 15450 will tip Bitcoin back
into negative territory and should force it back to the two
parallels below and potentially back to 14844 before it rallies
again. If we see this price action will look to get long again
from lower levels. Overall Bitcoin looks positive still and so
long as 15450 continues to hold it should rally through the
blue lines above it to 17229 and higher as the day progresses.
Look to get long on dips from as close to 15485 as possible
over the next couple of hours, most likely.
So far today Bitcoin has rallied to the next restistance line at
16447 after a high at 16487 but has since fallen away again,
coming back close to important support at at 15574-15485
(amended to cover yesterday's price action better). It's a buy
in this range with stops below 15450. Above here the trend is
still positive but any break below 15450 will tip Bitcoin back
into negative territory and should force it back to the two
parallels below and potentially back to 14844 before it rallies
again. If we see this price action will look to get long again
from lower levels. Overall Bitcoin looks positive still and so
long as 15450 continues to hold it should rally through the
blue lines above it to 17229 and higher as the day progresses.
Look to get long on dips from as close to 15485 as possible
over the next couple of hours, most likely.