A bloody lovely battle for the critical $10.8K

With this morning price pump a nice chance to trap those bulls is on today's agenda. A good job was done by $11K level buyers over the week-end but on the other hand, they simply had "to dig in": capitulation threatens just below 10800. The bullish momentum disappeared on the 3rd of July, right after it appeared on the 2nd. And the longer the price is in such a narrow range between $11.2K and $11.7K the more "fresh meat" comes to bears from vulnerable buyers who keep adding up to their positions to save the losing ones they already have upstairs. Let us sell XBT @11400 today, underneath the recent pump point, with $10.8K as the 1st target only. Enjoy your trap netting on Monday!

Kerstin Ohlsson
Xena Exchange Swinger