Short term report for BTC on wed 6 December 2017.
Bitcoin has yet again made another ATH, whether it is legitimate price action or just “painting the tape” the fact remains that the market is bullish and it is pushing to new highs.
When the market is so bullish it is best to stay long and wait for the trend to break, with that said I will wait for prices to consolidate above 12k before considering buying more at these levels.
How to catch the reveral? Look towards 11500 as the first support level and then 10k still the big psychological support. I don’t expect much selling of until we test 9k – 10k levels.
Until then ride the bull, safe trades.
Feel free to discuss any of my trade ideas with us in Slack.