Check out the full post here - www.dailytradingprof...big-move-in-bitcoin/
I think Bitcoin is poised for another decent
sized pop. After confirming $560's as strong
support, sellers have been holding price below
$650's for a while. This is classic consolidation
with higher lows and lower highs. ANY major
news event could squeeze shorts or cause longs
to panic.
So, as of right now I'm still bullish long-term but
watching news and breaks of this key consolidation
pattern to determine if we're gonna move towards the
next long targets of $680 - $775, or if we'll get a retest
of $560's first. Either way I think a good trade is coming.
BE PREPARED FOR A POP IN EITHER DIRECTION!
YOU CAN MAKE MONEY ON EMOTION IF YOU'RE
PREPARED AND QUICK ON THE TRIGGER.
I think Bitcoin is poised for another decent
sized pop. After confirming $560's as strong
support, sellers have been holding price below
$650's for a while. This is classic consolidation
with higher lows and lower highs. ANY major
news event could squeeze shorts or cause longs
to panic.
So, as of right now I'm still bullish long-term but
watching news and breaks of this key consolidation
pattern to determine if we're gonna move towards the
next long targets of $680 - $775, or if we'll get a retest
of $560's first. Either way I think a good trade is coming.
BE PREPARED FOR A POP IN EITHER DIRECTION!
YOU CAN MAKE MONEY ON EMOTION IF YOU'RE
PREPARED AND QUICK ON THE TRIGGER.
