Bitcoin's current status

Mar 5, 2018

• Bitcoin will break it's current resistance level if it closes today above our current resistance level at $11,379.
  
• Next resistance level thereafter will be $16,947.4.
  
• RSI still has room for growth.
  
• A lot of buying volume since start of Feb (albeit low)
  

Key:
Red: Resistance, Green: Support, Intensity = strength

Mar 6, 2018

Note

This could be:

* A small retracement to next support (or close to it)
* A bounce from resistance that could confirm a downtrend

It's uncertain to confirm either way. The only bullish signal on this chart is our RSI. Based on this, I am still bullish on Bitcoin for the next month at least before another, big, retracement.

Mar 6, 2018

Note

Mar 7, 2018

Note

We are now testing our $9666.9 support. If it closes below in the next few day a short order can be opened. First Target: $7474.3 Second Target: $5955.4

At $5955.4, if volatility decreases, it would be the perfect buy in range for long.

Mar 13, 2018

Trade closed manually

New Idea based on this low volatility outcome.