63K for Bitcoin before EOD?

63K for Bitcoin before EOD?

tradeles

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If planB´s prediction for end of October is solid, BTCUSD will need to close at or above the 63,000 level. Right now, it is trading at 60,700 so its close, but still got a bit of possible upside, based on this idea alone.

While I do not want to base my trades on such ideas (not solely at least), I do prefer long trades at this point. We are obviously in a bull trend, very close to all time highs, and the close of this month is looking bullish to say the least.

But how do we use this, in order to time a trade? We cant. The only way to time a trade is to look at the chart from a technical perspective - and here is what I see.

59,950

This level is the value area low of the current range, along with a key level that I have been eyeing in the last couple of weeks (more on this in a future post). If we do see a drop down to this level, this is definitely a place I am looking to get in long (I already got a couple of limit orders place).

Let's see if PlanB will be correct about 63,000 by the end of October, and see if I am right about 59,950 for a solid place to get in long for the next thrust up.



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