Bitcoin Update – booking profits and waiting
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
After a nice markup phase, Bitcoin is currently stalling out.
Above us we have the resistance of the 200 daily simple moving average . This is a tough nut to crack.
Time transformation, one of our primary momentum oscillators, just printed a bearish cross under and overbought territory. This is considered a sell signal.
Rather than exiting my entire position, I am going to take partial profits here, update my stop loss, and wait for price to break out of this range.
