Price at Bitstamp holding uptrend | 1HR time interval
Long trade has been in effect for 5 hours. A bit of caution is required.
If you are actively trading, it is advisable to set stops at or above breakeven.
On the long side: Ascending channel is still holding. Target at $345 remains intact. For upper targets regarding the other exchanges please visit our weekly preview report.
On the short side: Critical support rests at $334 breakout area.
Overall: Price is testing SAR support (white dots). Stochastic is overbought for 6 consecutive hours indicating possible temporary weakness ahead.
***Please note that the same applies to other reported exchanges too***
Our Stance: Holding longs with tight stops.