BITCOIN – Do NOT take a position YET! #2 (ZOOMED IN)

BITCOIN – Do NOT take a position YET! #2 (ZOOMED IN)

Bitcoin / U.S. dollar BITSTAMP:BTCUSD


After another successful run up (i think i’m having a streak) we are now facing
the Resistance Zone from 8600.00 – 8800.00.
A short position might be appealing here – but it’s too risky,
especially after a 400.00 strong move in this short amount of time.

We’re in Oversold territory on the lower time frames.
I’m expecting the price to reach Buy Zone from 8320.00 to 8400.00.
At this point we will CONSIDER opening a long position, based on what signals we get.

I will update this chart accordingly.

Leave a thumbs up if you like my idea and let me know what you think!
This will keep me motivated 🙂

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