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BTC/USD: Digest the Gains
I am a buyer of this asset closer to the $60,000 level. A stop loss would be $58,000. The target would be $73,500 above. The entry will be anywhere I see a bounce between $60-$61.5 K. Bitcoin plunged during the early hours on Tuesday as we continue to see a lot of noisy behavior in this market. Now, the candlestick of course is very negative looking, and it is something that's somewhat concerning, but at the end of the day, it's very likely that we need to consolidate in this range.After all, the market rose 90-something percent in a very short amount of time. So, somebody somewhere is going to be taking profit. ... (full story)