Bitcoin (BTCUSD): Buying The Dip

Dec 8, 2017

Bitcoin price dropped nearly 20% today. And yet, the uptrend remains intact with 15743 and 16147 being first targets. The correction took the form of a Flat (3-3-5). When the price broke beyond the pitchfork, it triggered my buy orders.

Dec 8, 2017

Note

Bitcoin price dropped nearly 20% today. And yet, the uptrend remains intact with 15743 and 16147 being first targets.

Dec 8, 2017

Note

Drop below 14 100 is very unwelcome under this scenario, so I define this as a reversal level:

Dec 8, 2017

Note

Stop-loss order should now be moved to break-even (14 900).

Dec 9, 2017

Note

Yesterday we hit the 15 743 target but didn't get to the second target of 16 147, so the rest of the position was stopped out at break-even. Currently looking for new oppurtunities. Drop below 14 000 could be detrimental for BTC and trigger more selling. Dynamic resistance is 15 600.