Bitcoin has been grinding inwards a tight attain for the by 2 days, only I intend in that place is or in addition to then potential for a bullish deed inwards the coming days. Price is currently trading higher upwards 2 fundamental pin areas - $230.30 in addition to $229.00! I would consider the pin at $230.30 to hold upwards a "major" one, equally this expanse has been respected virtually 3 times equally support/resistance. The pin at $229 is of less significance, only this marking should non hold upwards ignored, equally the cost used this marking equally resistance on the 16th, in addition to equally back upwards on the 17th. Unless cost plunges downwards through both of these pivots, the path of to the lowest degree resistance seems to hold upwards UP! So, I would await for long entries close these of import levels.
The 4-hour nautical chart is likewise showing a "Head&Shoulders" technical blueprint forming, of course of teaching the correct shoulder has non formed yet, only the setup is there. If I were trading this setup, the ideal buying cost for me would hold upwards correct at, or anywhere betwixt $229 in addition to $230.30!
Chart Source: okcoin.com
