norok

Bitcoin Spike at Resistance

Short
INDEX:BTCUSD   Bitcoin
Bitcoin HELD the Last Support noted in my Idea last week. That save BTCUSD from going bearish. However, it is not out of the woods yet.

Today Bitcoin spiked the 50% Retracement Resistance at 64652. This sets up a short trade where if the high of the spike is broken "you know you're wrong" for a low risk/high reward trade. If the Spike high is broken... Bitcoin may trend bullish and even resume the full bull trend onward to 100k+. However, if this spike is a reversal and price retests the lows of last week, this will trigger a full trend flip to bearish via the Ichimoku cloud.


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