Bitcoin Technical Analysis: September 11, 2015 (Inverted Head And Shoulders Pattern)

Entry:

Buy long XBTU15 (BitMEX weekly BTC/USD futures contract) while OKCoin.com spot is at 239-240 USD with a spot stop limit of 236 USD.

Exit:

Close XBTU15 long position at 255-260 USD;

consider reducing the position by 40%-60% by taking profit at 250 USD.

Video Analysis:

Bitcoin Technical analysis: September 7, 2015

Recommended contract: XBT7D (Bitmex weekly BTC/USD futures contract)

Entry:

BUY LONG XBT7D (BitMEX weekly BTC/USD futures contract) while OKCoin.com spot is at 240-238 USD with a spot stop limit of 236 USD.

Exit:

Close XBT7D long position at 255-260 USD;

Consider reducing the position by 40%-60% by taking profit at 250 USD.

Video Anaylsis

 

UPDATE:

A recent break of the inner uptrend line indicates a larger retracement coming soon. Wait for a reversal before going long at around 236 USD.