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Gas/Bitcoin - Stalking the Pullback

GAS/BTC rallied sharply during the 11/17 session. But it retreated from around 0.00366 BTCs (a previous resistance) during the start of the 11/18 Asian session.

GAS/BTC

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  • The 4H chart shows that price action has been turning from bearish to sideways. 
  • It would be too early to call this bullish, but there signs that it could be gearing up for a longer rally.
  • However, without enough clues, we should probably be conservative with the bullish projection.
  • Also, we should probably wait for a deep correction so that if we are wrong and GAS/BTC continues to fall, we limit our risk.
    Trade Plan:
  • Entry: 0.002500
  • Stop: 0.002050
  • Target 2: 0.003600
  • Target 3: 0.004100

GAS/Bitcoin Continues to Rally - Waiting for Pullback

Trade Ideas November 12 - 18, 2017