Nickonomics

BTCUSD: Main Trend Update

BITSTAMP:BTCUSD   Bitcoin / Dollar
My last update contained a short-term Triangle pattern setup with target area 1670-1689. The strategy I suggested was going long just above Wave D of Triangle with a stop-loss near Wave E bottom.
Everything went quite smoothly with prices breaking to $1720-s highs. Now it's time to switch to a longer-term chart and assess the trend pattern. According to my wave model, the price is still in Wave 3. Fibo ratios and no divergence RSI pattern support this idea. There are 2 resistance areas where this wave could end.
Intraday chart looks like this:
snapshot


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Video update: https://goo.gl/VZWlGH (Russian)
Kommentar: Alternative wave count:
snapshot
Today's trade support and resistance ? any big exchanges
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Excellent trade setup. If this happens, then there is a chance of making some pips. Thank you for sharing. Keep posting.
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