BTCUSD -6.82% Key Levels Today

Busted out of the long just under the target at 11738 on the
Bitfinex feed with the high at 11700, some 38 points shy of
the final completion target. Cruel Bitcoin -6.84% . We were looking to
short from the target - those who did so have been rewarded
for their courage. If you were one of them then well done to
you. It was close to perfection, but not exact. Sorry for that.
So now we are short and looking for a test of 10740 line here
before a decent bounce where we can look to close out any
shorts - think it will bounce but fail here later, coming back
to the lower parallel at 10448 on Bitfinex where it should
begin to rally again. At all costs 10448 must continue to hold
up throughout the day today. For any failure here would tip
Bitcoin -6.84% back into the hands of the bears again who won't
release their hold until 9285 is tested. If we see this develop
today we can short again - but right now we need to keep an
eye on the lowest parallel at 10448. It must hold up today if
we are to avoid a serious day of damage unfolding right across
the entire market.