Looking at the 89 minute chart of BTCUSD, we see that BTC has slipped from our preferred bullish zone near 10,400.
However, that might be good news for tactical dip buyers. 10,150 seems like decent support as that is the 50% retracement of the most recent up move. If you are a short term player, this might be a chance to take a shot on the long side.
In our view, Mr. Market is not taking the situation in the Middle East as seriously as it should. When people realize the gravity of the situation, it may benefit Bitcoin.
So having a tactical long position with a reasonable stop feels like a good way to play.
However, that might be good news for tactical dip buyers. 10,150 seems like decent support as that is the 50% retracement of the most recent up move. If you are a short term player, this might be a chance to take a shot on the long side.
In our view, Mr. Market is not taking the situation in the Middle East as seriously as it should. When people realize the gravity of the situation, it may benefit Bitcoin.
So having a tactical long position with a reasonable stop feels like a good way to play.