Even though there isn't much buying pressure at the minute. Due to the publicity of Bitcoin it still has a lot to go. Many organizations and banks have started buying in. This is primarily because of the inflation rising on the US dollar and placing it in our new 'digital gold' is a way to store value against that. On the technical analysis side, currently it's...
Initial prediction was cancelled due to higher low being created however, this still has potential. Over the previous highs each high created had a Head and Shoulder pattern before shooting down Approx. 150+ pips. placing an entry at shown point with 20 pips breathing room should be all it needs. If it doesn't appear to be heading back up to form the other...
Currently contesting the resistance, if a candle doesn't close above the resistance look for a sell if it does close above be careful as it could be a false break out. if it forms a higher high above this current resistances only then negate this idea.
TP 1: 1.23430
TP 2: 1.22402