Both technical patterns and our proprietary BittsBand indicated a resistance level at around 7700 USD and much clearer path above this price level. See our tweets:
$BTC with bottom support pattern at 5963 USD. #bitcoin has next technical top pattern at around 7700 USD. Will be interesting to see if we get a quick rise to 8000 USD after breaking 7800. get automated detection of technical patterns and much more at https://t.co/7qZ4X0cz6s pic.twitter.com/7Rzx6mgGL9
— Bittsanalytics (@bittsanalytics) July 23, 2018
Our deep learned resistance Bittsbands again a great predictor for #bitcoin. After encountering resistance BittsBand at around 7500 USD the price of $BTC fell again. get deep learned analytics like this at https://t.co/7qZ4X0cz6s pic.twitter.com/BiuNMmiY8M
— Bittsanalytics (@bittsanalytics) July 21, 2018
As we said in the tweet there was a higher chance of seeing a rapid rise once the 7700 USD level is broken. The optimal way of trading this would be to set up e.g. limit buy orders at 7750 USD. And what we conjectured has today indeed happened. Once the 7750 USD was broken the price rapidly rose for a return of +7% in less than a day.
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