- Bitcoin price continued to move higher against the US Dollar, and my buy dips idea highlighted in yesterday’s post worked perfectly.
- The price cleared a bearish trend line formed on the hourly chart (data feed from Bitstamp), and looks set for more gains.
- The price almost reached $425, which is a resistance area and I think it’s time to book profits if you are in a trade.
Bitcoin price moved higher after a minor correction as forecasted. Read more how BTC/USD can trade from the current levels.
Bitcoin Price is all Bullish?
Bitcoin price surged higher and after a minor correction managed to gain bids for another upside move. I highlighted a plan of buying dips yesterday, which worked perfectly, and now I think it is time to book profits as BTC/USD is heading towards a major resistance area and it is not worth the risk.
The price stayed above a major bullish trend line formed on the hourly chart (data feed from Bitstamp), and also managed to break a minor bearish trend line on the same chart. BTC to USD almost tested the 50% Fib retracement level of the last wave of the $412 low to $427 high and started