ryanbs1975

for the weekend

BITFINEX:BTCUSD   Bitcoin
4 hour bull flag played out well yesterday with a pump to 7440 and then a rally toward 7600 and then rejected. 4h rsi and 1hr rsi cooling off and pointing down. Looking probably for another rally to 7500 later in the day, as volume looks like it is coming back in, and again would think that we will probably get rejected one more time before another pull back over the weekend. If we are to rally over 7500 prior expect a target around 7800 and the 7575/7600 area to become a strong support considering we have tested three times now. A Pull back would put us in the 7250/7200 area which would fall right in line with the 100 EMA on the hourly, as well as the first support under 7340. Remember that the weekends are slow trade times so keep patient.

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