March 30 is the projected bottom for the 7-day decline that set-up on the 23rd of March around the 262 level.
It is very constructive that the projected decline to 224 did not happen AND the market held support at 237 where you can see the 20-day mode is holding the market decline. 237 is also where the most volume shows on the "volume profile" on the right side of the graph. The low volume and high volume levels represent important levels.
Look for a move over a previous day high to buy and use 229, 223, 217 as stop loss levels for longs. A break of 237 will be setting up a major down leg, but first we need to stop out long, then roll into shorts because if 237 breaks, it means there isn't enough support to sustain prices at this level and not enough accumulation to start a longer term advance.
Tim 10:13AM 244.90 last BTCUSD March 30, 2015
It is very constructive that the projected decline to 224 did not happen AND the market held support at 237 where you can see the 20-day mode is holding the market decline. 237 is also where the most volume shows on the "volume profile" on the right side of the graph. The low volume and high volume levels represent important levels.
Look for a move over a previous day high to buy and use 229, 223, 217 as stop loss levels for longs. A break of 237 will be setting up a major down leg, but first we need to stop out long, then roll into shorts because if 237 breaks, it means there isn't enough support to sustain prices at this level and not enough accumulation to start a longer term advance.
Tim 10:13AM 244.90 last BTCUSD March 30, 2015
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