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Bitcoin Update


The current break from the 11800 long term swing point continues to trade below 23.6% of the move up at 10450, this is also a major Gann square. You can use this as the short term swing point. They will have to stay below 38.2% of the break at 10850 to say they are still going to the first longer term target at 38.2% of the March low, this is 9200. Also in this area is a major Gann square at 9400 and the 200 day average at 8950. This is the area that must hold to keep the long term trend positive. With a couple close's below the 200 day average the next target is 61.8% at 7200. Above 10850 look for a retest of the long term swing point of 11800. It will take a couple close's above there to give us the next long term target of 16300.

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