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BTCUSD: Short term sell set-up.

BITFINEX:BTCUSD   Bitcoin / Dolar
Bitcoin is trading on a standard 1D Channel Down ( RSI = 67.104, MACD = 446.400, Highs/Lows = 677.6506) that is close to its technical Higher High. This calls for a short term sell (within the channel) towards a potential Higher Low around 8,000. The slightest break above this Channel invalidates the pattern so shorters should keep a tight stop loss as the bullish waves of the current bull market are way too aggressive and the next medium term upside target for BTC is 11,500.








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nope! it wasnt the case this time .how about longer term chart ?you are very good at that. as i remember you called the bottom +/- 5% .cheers kee up the good work
Balas
Burned.
Womp womp womp wooooomp
Balas
I agree on this one. I'm looking at the long term up trendline (red) as a brick wall of resistance. Until we take this out we are still technically in a long term bear market correction.
Balas
I agree. Also $10K is a big psychological resistance. This could not just break so easy.
Balas
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