Anyone in the BSV/USD(t) trade needs to take a look at the chart and reassess. I had sells between $145 and $150, and I'll be looking to refill based on what happens over the next 24-48 hours. With such a strong move up, and plenty of room to breathe on RSI, I'll be looking for another big pump before we start the real trickle down. Next resistance is around $170-$175.
I just want to point out the perfect breakout. The horizontal and diagonal resistance was right where the candles peaked out, so it was a perfect breakout pump pattern at the bleeding edge of a bearish descending triangle.
In the coming week, if no fundamental news comes out (Tulips?!) I'd expect the chart to spend a little bit of time cooling off. However, if we break up hard to $175 today, it's a ripe opportunity to fight for a new all time high very quickly! Keep an eye on this chart!
I just want to point out the perfect breakout. The horizontal and diagonal resistance was right where the candles peaked out, so it was a perfect breakout pump pattern at the bleeding edge of a bearish descending triangle.
In the coming week, if no fundamental news comes out (Tulips?!) I'd expect the chart to spend a little bit of time cooling off. However, if we break up hard to $175 today, it's a ripe opportunity to fight for a new all time high very quickly! Keep an eye on this chart!