Regardless of what I think about the underlying instrument, bitcoin became “official” over the weekend as its futures are now being traded on a regulated exchange. Because of that, and given widespread interest, it deserves our attention — at least periodically. This will be the first in a series of trading reports specific to bitcoin BTCUSD, -1.55% (There’s also a futures contact XBTF8, -3.26% ). The intention is to provide trading strategies, not investment strategies, for bitcoin. Based on current technical observations, there are no immediate resistance levels. However, converted support exists at $16,234. So long as the cryptocurrency remains above that level, additional increases are likely. And they could be aggressive because there are no immediate resistance levels in the charts. Please review the chart, below, and additional commentary below that. via