Bitcoin consolidation after a new all-time high at $7354

3 lis 2017

After a nearly $2000 bull run from the last low, we're seemed to reach the bull volume climax, and now in an equilibrium pattern. A few hundreds pullback from the last all-time high is a consolidation, which you can see it clearly on the daily and 4-hour time frame, everything still looks healthy. We are definitely still in a bullish trend, but I will not enter any position until there's a signal of a stronger trend.

Support/Resistance
At the moment we have $6971 as support, which is in line with 0.5 fibs, there are 3 attempts that failed to close below this level. $7082 is acting as resistance, 3 attempts failed to close above as well.

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3 lis 2017

Uwaga

Bitcoin broke $7082 resistance by closing at $7200 on 4H chart, now I'm watching 7340 resistance on 15m chart

3 lis 2017

Zlecenie aktywne

BTW, I've made a very small position (>5%) entry on the last five 15m candle, around 7034 on Bitstamp, $6371 on OKEx quarterlies contract (Price difference due to people cash out Bitcoin for SegWit2X, the differences meaning the expectation on SegWit2X value.).

3 lis 2017

Uwaga

3 lis 2017

Uwaga

Set your trailing stop loss, let the profit fly! Nothing is better than knowing you have secured your profit and watching it continue to grow.

We've just set a new all-time high, both hourly and 15m chart have broke above upper bollinger band along with bullish volume to back it up.