Bitcoin: Breakout!

Chart by TradingView

Yesterday, Bitcoin didn't catch my Long position at $6380. Instead, there was a massive breakout and re-test the trendline at $6392; then Bitcoin jumped up to the higher ground at $6572 respectively.

It was a solid move, and many altcoins have followed the path of Bitcoin to share the same green.

Trade setup

As you can see, in a smaller timeframe, Bitcoin is trading within a resistance and support lines, which are great for setting a short trade here.
I have set up the following trade:

• Long from $6460 and Short from $6570. For either trade, I will close when I have got $20 in price difference.

For other altcoins, you should book some profit and wait for the retrace to re-enter again.

Please treat this information as reference and please trade with your full awareness of risk.

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