Bitcoin Analysis for April 4th, 2018
WE COULD BE ABOUT TO SEE PRICES ROCKET. MAKE SURE YOU ARE OUT OF ALL SHORTS.
The downside should be limited but below here meets a buying opportunity at 6700/6600, with stops below 6400. Buying opportunities at these levels. Watch first resistance at 7250/7300. A break higher targets 7650/7700 (we are on the way now). A break above 7750 targets 8100/8150, perhaps as far as 8550/8650.
A break lower however is likely to retest the February low at 5920.
Happy Trading
Jason Sen
www.daytradeideas.co.uk
There appears to be some price stability around the 7000 level. If this level can form a solid base we should see the dips get bought up until the next catalyst for growth happens. The Robinhood app is still rolling out and I think that will help to bring in new people who are looking for a simplified entry process.
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Yes, we have come back down to the buying area we thought may happen yesterday. But, with how the market is shaping up down here I am not as keen to get long. If we break below 6400 there is a strong likely hood that we retest the February low of 5920.
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