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Hey guys,

Well after another stunner of a weekend, I’m just spending Sunday night writing up a quick Bitcoin market update.

But first, take a look at this. It is too beautiful not to share:

Okay, but back to business.

Here’s what I spoke about in my last Bitcoin trading update blog post:

BTC/USD Daily

If this goes, then it’s a horrible sign for bulls. But just remember that while we’re above it, things are as they were when we were bullish a few weeks ago.

But the hourly doesn’t look too bullish does it:

BTC/USD Hourly

As you can see, I sort of hedged my bets, with clear levels there to be traded by both bulls and bears.

I had been trading bitcoin from the short side off this level, but after bouncing off the higher time frame support you can see in the following daily, I wasn’t so sure about keeping it open:

BTC/USD Daily

So you can clearly see on the intraday chart that there’s is something on offer for both the bulls and bears, managing your risk around both zones:

BTC/USD Hourly

The structure in these markets is so cool.

Enjoy what’s left of your weekend and I’ll see you on the blog tomorrow!

✌🏻.

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@forexbrokr | Steemit Blog

Market Analyst and Forex Broker.

Twitter: @forexbrokr
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