Btc broke the trend line this morning with great momentum. Our stop loss on the short which was a small profit level was triggered at 7240! I am long btc again. We will need to see how bitcoin react at 7400- 7500.
I am saying this for the past 3 days, when there is a turn in any market from bullish to bearish the market can whiplash you before the run continues up or down. We can only look at the charts and take the signals in front of us. The daily chart’s predicted top at $8200 and even $ 9800 is still in play. I will not trade with that in my mind, as this can also be the possible turning point for bitcoin!
Support : 7220 and 7000