BTCUSD: Weekly chart inspired play

BITSTAMP:BTCUSD   Bitcoin / Dollar
376 5 10
Volume action spells trouble for BTC bulls, I see it hitting the last lowest low, or even lower, targetting 153 initially, to then aim for 125.
My ultimate low target would be 86usd, but that price will be harder to reach.
Good luck!
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Weak rally, as expected, BTC moves slowly in the shortest timeframes.
Note that the weakness in the background persists, biggest range bars have been down bars, and the rally doesn't explore higher highs vs the past quarter.
If stopped, we can continue to look for a short position in the weekly, until a change of bias is warranted.
We'll see.
vortexspaces IvanLabrie
2 years ago
chart invalidated
IvanLabrie PRO vortexspaces
2 years ago
Indeed, the news about the regulated exchange probably have to do with it.
Not sure if they are true though.
Long term bear chart still valid, unless it hits 461, so I wouldn't just buy BTC yet.
319.83 not retested, anything below was a nice sell, BTC remains bearish for the time being.