Thoughts for BTCUSD for the next 24 Hours

22 Des 2013

So we bounced off 0.5 instead of 0.618 like I predicted. Depending on movement in the next 3 hours, we'll either break out of the triangle upwards or continue the triangle downwards. I'm more towards the second as it would take major news to break the 650-570 resistance. I've set a buy order for 615 which coincides with a 0.5 retracement, and will (hopefully) sell half of it at 630, keeping the other half in case it breaks out upwards towards 670 before bouncing.