Bitcoin Now Severely Overbought But No Sell Signal As Yet
Jason Sen | Oct 23, 2017 07:51AM ET
Bitcoin topped out just 40 pips above our next target of 6090/6140. We are severely overbought and the greatest risk to bulls is a period of sideways trading but there is no sell signal so shorts are risky. We could range this week from 5700/5690 up to 6140/6180. However a break above 6200 targets 6270/90 then 6500.
First support at 5700/5690 but below 5600 risks a slide to a buying opportunity at 5430/5400. Try longs with stops below 5300.
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