Daily Candles : Bottom of the cloud may be acting as resistance

in bitcoin •  2 years ago 

As I mostly look at the the daily candles I figured I'd title all my posts about them 'Daily Candles' to make a kind of series.

Still a long time in todays daily candle but so far it looks like the bot of the cloud has acted as resistance.

As per my plan mentioned in my previous post I have closed most of my long in the $12,800 area, got it spot on for once. The rest of my long, I will let ride until $14k to get most of the advantages of the possible edge to edge trade.

For my renters I still have buys at the 100D MA (missed yesterday by only a 100), the local min $9,200 and the bottom of the trend ~$8k.

Will look to reenter a longer term long if we break above cloud and get the 30D and 50D moving averages to recross.

Thanks for reading.

KevinBacon





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