BTC continues to tighten up! Break incoming...

8 באוק׳ 2018

Well we continue to tighten this pattern up. Last chart I discussed a few levels, mainly our resistance which had our triple top of $6640, 6641, and 6642 at it and the bulls trying to form their higher low which the 4 hour chart at the time was setting $6511. I personally did use this as a stop for a small position and then used a much looser stop in case the whales were fishing for stops. We got a quick spike down to $6492 so did stop out and lock in profits for some more of my position and rest remained in position. Bulls pushed up to $6585 and I re-added on brief consolidation around $6560 just to re-fill what I had stopped out on. Bulls are now back to testing $6600 area with our spike high at $6613. Otherwise we wait patiently for 6640s resistance to break. New support is at $6492 which lines up perfectly for daily chart. This is an extremely tight range for a daily chart so we know a break is coming likely today or tomorrow. I have my stops in place for current position in case we see a bear break and have my stop buys in place for a bull break to add to the position.

Just My 2 Sats!


*** Edit - and as I was typing/posting the bulls are making their move. MUST see follow through here