DistortedBit

BTCUSD Massive Bull FLAG P/R=4

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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1
Looks like we are on the verge of breakout out of a major trendline. Over the last two months we have constituted a massive bullish flag . The upper resistance has been test 2 times. This time, the rally started near the resistance line and had a consolidation right below. This gives a better chance of breakout. This has already broken out to 10700 levels, however this is not a buy until the day closes above in the next 12 hours. We would also want good volume on that breakout. At least twice the volume of the past average. If you are an aggressive trader you would enter the position now, however since this is a major trendline, one should wait until we close above.

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