Our Great BTC Entry hit the first bit long target yesterday giving BTC longs a profit of over $2,000.00, and those who had taken the big daily long at 2917 a profit of about $3,000.00.
BTC has been trading very technically, meaning that trading is dominated by professionals, and that, in turn, means that targets are usually respected and can mark significant trading levels. Put that in combination with a direct upper channel hit and slowing, potentially diverging technicals, as mentioned in my last post Chart Potpourri: BTC, SYS & STEEM, and you’ve got fair warning to be careful and protect profits.
By the way, Alts are negatively correlating with BTC once again as it rises, and with as low as they’ve gone, I’ll find it extremely surprising if that reverses once BTC starts south again.