So you can see we respected the sub channel top within out main channel twice. We then broke through that as expected and on that break had another move up. I have changed that channel to green as it will now act as support. It looks as if we may hit 10K today instead of tomorrow as predicted, but since I am long it does not concern me. If anything I take it as emotions are changing faster than expected and I may not take anything off after the initial break of 10K. approx 10200 will be an interesting area to watch as you can see we have quite a bit going on there. A major Fib line and a major down which we (long hope to break). Now to bring it into perspective we are going to have many traders, as you saw early this morning, take some profit at 10K...Im not worried about that. But past 10K we have a ton of conservative longs waiting for this to break as confirmation for their trade and a buy therefore being issued. Along with all of this you have expirations on the 23rd. Now last month we were in a bear cycle and many people bought 'puts' or shorts if you will, against bitcoin . You saw what happened on both of those days during the expirations... went up and price went down. I believe we will have about the equal and opposite reaction this month. You saw the first CBOE settlements yesterday and I believe the 23rd will produce much the same. This is the momentum we need to break this kind of resistance. Then you add in media coverage that bitcoin is alive again gaining 100% returns in 10 days and poof just like that we are back in a raging bull market. Now this is quite a few stars that have to align. Its possible.. but so is going back down for a . It is my belief we are already on track to not do that. This is my opinion take it for just something to think about...do not lose money based on my non-financial advise and as always only 'play' with what you are willing to lose!
Three white soldiers and I hold till 12K and observe once we are there. One more long green (white candle) which would close the day at the top poking out of the channel and I would not try to scalp at all. We are currently on that candle on the 4hr. and it is slight red. FYI disregard my last message. It never got there so should no one should have engaged that trade.
May drop for a bit back into main channel. Transferred all my BTC to LTC for the fork tomorrow. Hopefully I get to buy at this channel bottom.