Look like an impulse wave up, Long on Bitcoin

With high volume Bitcoin broke out and made a spike up towards the resistence zone 7350. I think it will fall back to around 7200, this will be a good buy opportunity. Because it is almost certain the short term low is set around 6950.

Comentário:

If it doesnt drop now, it will probably go directley to 7400/7450

Comentário:

Small H&S, If this impulse wave wont drop here a little bit with thbis pattern, it will go directly to the 7600

Comentário:

"They" are still holding it, it looks very strong, but still i think it will drop 100 points. to about 7400/7380. From there it will go up to 7600 and higher i think.

Comentário:

or not :), thought i would get another chance to add some longs, but it seems to powerfull (or greedy)

Comentário:

I am selling all my long positions now. I am turning to short, volume is weakening, futures are making lower highs than Bitcoin. I think t will drop to 7400/7350

Comentário:

Going short is risky!! fingers on the trigger, this is an impulse wave up and it's not done yet

Comentário:

i will probably close the shorts at 3780. Then i will turn long again, but i will wait for a signal/confirmation on the 1 and 5 min chart

Comentário:

And thats the risk of trading against the trend. I had lowered my stop of the shorts so no loss there, but now i ahev completely missed this wave up