At the moment it's found support just above the supports shown on left hand
chart and trying to fly higher - it needs to take out 7500 now to stay positive...
if we see it falter and fail just above or just below 7500 then we have the first
sign that a turn might be approaching fast...next sign would be a breaking below
7061 and a fall below the rising support line shown on left hand chart. Only at
that point will the near term picture start to turn negative for Bitcoin .
It should then fall back to the old highs around 6165 - to the rising support
line shown on right hand chart at around this level - that would be the perfect
entry point for those wishing to ride this tiger...time will tell.
Website won't allow any more uploads after hitting limit for day, so having to use this for now. Good trading this weekend
So if Bitcoin is to hold up and 7500 not become significant, it must really do it here, from the first support at 7150-7140...
Otherwise the near term danger for longs increases once the rising trendline shown on chart is broken, as per earlier comment.
It's a speccy buy here with stop just 40 points below 7140.
Downside 50 points. Upside uncalulable