koryu

btc - three resistances to break

Long
koryu Aggiornato   
BITSTAMP:BTCUSD   Bitcoin
Everybody is waiting that the head and shoulder top plays out but meanwhile btc breaks out up the chuvashov fork.
I see three resistances that we have to break to recover from the correction.

Commento:
hit target 1
Commento:
added a little bit to position here as hedge for altcoin positions
Commento:
korea might show the next path
Commento:
Korea trying to break out and has a permium of $5k




Japan has a rising wedge but als has a permium of $1.5k



For me it seems like the arbitrage route is west -> japan -> korea
Commento:
this chart showing the price of west exchanges (bitfinex, bitstamp, coinbase, itbit and kraken) combined and weighted by the volume.

Commento:
hit target 2
Commento:
korea new ath
Commento:
The current correction is a wedge on 2h timeframe. breakout up would target 19500.
If it goes down further, its time to rethink position, maybe take some profits and wait for new long signal.

Commento:
to remain bullish we should close above the ma20 which was resistance before, switching to daily chart
Trade chiuso: stop raggiunto:
stopped, could be the bottom though.

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