LeMogwai

Uptrend still in play, about to make a new leg or a correction

Long
BITFINEX:BTCUSD   Bitcoin
14
Don't be fooled by the bears, we are still above the kijun of the daily cloud and above the trendline. We are in this uptrend from mid-january.

We are above a small trendline that suggest a new leg up coming today or tommorow.

But we can also correct to the major trendline in the 255-262 area, that could be a perfect place to buy in with a stop loss below the trendline.

To be fair with the bears I also tried to predict the possibles paths in case the major trendline will break down.

Right now the most probable path in my opinion is the "A" one.

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