Bitcoin
Bitcoin holding very minor resistance at 7700 to break 100 day moving average at 7550/7500 & target 7150/7100. Exit all remaining shorts. We then test very important support at 7000/6900. If this is the beginning of a new bull trend over the past month then we should hold here & if you believe in the bitcoin story, try longs with stops below 6750.
Failure to hold above 6800 puts bears back in full control of this year's bear trend. Expect a further collapse to 6550 & July low at 6250/10 but further losses are likely.
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
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