BTC/USD Wait for pull back to support!
Updated
Bitcoin has had an exemplary year so far, gaining ~50% on a steady uptrend. While there have been a few good opportunities to enter long on the pull backs within the channel, we are now in a somewhat over-bought and extended region and opening a trade at this price would be risky. Given that we have moved above the major moving averages and that we have broken above the previous support (and expected resistance) of ~9500, I would now be a confident buyer on a pullback to test that zone for support.
Look for a pull back to test trend line and or 9500 support.
Look for a pull back to test trend line and or 9500 support.
Note
Playing out pretty accurately so far. If this trend line holds then entering the market long will be the game plan.
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