BTCUSD: Monthly downtrend expiration triggered a rally
As expected, Bitcoin did rally from the previous juncture, but the advance has been slow.
We have a bullish weekly signal that aims for 282.94 by November 3rd, but rgmov isn't plotting new 2 month highs yet, so I'd be careful with it.
If already long, you can trail the stop to a bit under 235.
Seems like Bitcoin has upside left still, but keep in mind the strong resistance levels at 272 and 276.18.
In the short term, look for a new range expansion bar, so far all the bars market by my indicator by a green triangle have been working great as individual trade signals. This usually happens in strong trends...
Cheers,
Ivan Labrie
Time at Mode FX
We have a bullish weekly signal that aims for 282.94 by November 3rd, but rgmov isn't plotting new 2 month highs yet, so I'd be careful with it.
If already long, you can trail the stop to a bit under 235.
Seems like Bitcoin has upside left still, but keep in mind the strong resistance levels at 272 and 276.18.
In the short term, look for a new range expansion bar, so far all the bars market by my indicator by a green triangle have been working great as individual trade signals. This usually happens in strong trends...
Cheers,
Ivan Labrie
Time at Mode FX
