The fact that the market is narrow and dull and at the same time trading not so far from recent new highs for the rally from the april 2011 low gives me pause. We have broken well above the previous high of 4.15 but now no aggressive buying activity is evident. Experience shows that when the market gets dull after an extended move it is about to go into reverse. This leads me to believe that a break down to 6 or even further is imminent.
Category: Short Term Trading
Short Term Update
FLAT | waiting next trading signal
We are in the process of closing a dangerous pattern thatn can either explode on the downside or upside. In the 2 hour chart it is clearly visible. The hourly chart already gave a buy signal that i haven’t followed, i prefer to wait for a buying signal on the 2 hour chart with a tight stop loss. It is crucial to stay above 6.80$.
Short Term Update
FLAT | waiting next trading signal
After a long signal at around 7.82$ this night at 4am (GMT+1 time, i live in italy) the market touched 8.40 in the morning, since then sellers took control of the market, at least temporarily, the oscillator it’s oversold but i dont think i’ll see a buying opportunity today, once the low is in place, probably in the next 12 hours, i think a rally will start. I expect it to carry the btc up and above the 8 level over the next few days.
Bitcoin Trading Ideas, Analysis 