BTC setting up for a big move

2018年8月16日

I have a bullish bias here because we have been ranging between 6000-6600 for over a week and I personally believe 6000-6200 is stronger support than 6600 resistance. It is important to remember that resistances get weaker with each touch and we have been pounding on it the past couple of days. Which ever level break with convincing volume should see an impulsive move in the direction in which the break occurs. 4hr bull cross of ema 12&26 has been a good indicator these past few weeks and historically has lead to continued upside. Smaller TFs show bulls buying dips even with losses of 15min HLs. In a no trade zone for me right now but I have buy orders stacked from 6320-6360 with a reasonable stop. I think that if we don't end up bouncing there I can stop out at a small loss and add lower. Breaking 6600 should take us up to 6835 where I have a partial TP so I can reduce my risk and free up some capital. Will update this post when something interesting happens.