Looks like bitcoin just took a nice 5% dip as a retrace after the bullish week or so we've had.
If you go back at look July- December, we had some similar action on the Bitcoin price.
I think 6900 will hold, that was a pretty big pull back.. if we break down past 6900 id say we may see a retrace of 5800.
Personal Opinion: Long position at 6930, take the 1 percent profit on 7000, wait for confirmation that 6900-7050 is going to hold, long position back to 7200.
If 6900 starts to break down, cut losses, enter short to 6750
Best thing todo if you don't want to risk too much is wait until we have better indicators of a direction!
If you go back at look July- December, we had some similar action on the Bitcoin price.
I think 6900 will hold, that was a pretty big pull back.. if we break down past 6900 id say we may see a retrace of 5800.
Personal Opinion: Long position at 6930, take the 1 percent profit on 7000, wait for confirmation that 6900-7050 is going to hold, long position back to 7200.
If 6900 starts to break down, cut losses, enter short to 6750
Best thing todo if you don't want to risk too much is wait until we have better indicators of a direction!
-Profit Programmers
www.profitprogrammer.com
www.profitprogrammer.com