Bitcoin: Longs Need Stops Below 5100
Jason Sen | Oct 19, 2017 05:21AM ET
Bitcoin longs at 5200/5160 worked perfectly as we shot higher above 5450/20 to the next target of 5580/70. On further gains in the bull trend look for 5680/5700 & the all time high of 5836/46. A break above 5850 targets 6090/6140. On further gains look for 6270/90 then 6500.
Failure to hold above minor support at 5580/70 risks a slide to strong support at 5450/20. This could hold the downside (even though it failed yesterday). However a break lower targets 5280/70 before a buying opportunity again at 5200/5160. Longs need stops below 5100.
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