Disclaimer: This is not meant as financial advice and is for entertainment purposes only.
I am very happy to see that Bitcoin broke out of the triangle I drew yesterday! The market is getting more and more bullish by the day and I am loving every second off it! Yesterday I said that I expected a $10,000 restest if we could hold $9,000 for another 12-24 hours.
I also mentioned that I would be staying away from BTC until it broke out of the triangle one way or another and hinted at the ETH setup. We got a golden opportunity when ETH and LTC broke out of their triangles in a big way and BTC lagged behind for hours, as if it were set up on a tee.
Last night I closed ½ of my leveraged ETH:USD long (+22.15% in less than 12 hours) and put it into a leveraged BTC:USD long at $9,315.
We met some resistance at $9,400 and I think that it will provide another good entry sometime in the next 6-12 hours. Often the price will throwback to test the triangle for support before taking off. I would be looking at building a long anywhere from $9,200 - $9,300. A stop loss set under $9,000 leaves a very nice r:r ratio.
Happy trading and go bulls!
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Click here for yesterday’s post!
Here the 0.1 > 1 BTC Trading Challenge!
And you definitely don’t want to miss the next Gold Bubble!