IvanLabrie
Short

BTCUSD: Weekly chart inspired play

BITSTAMP:BTCUSD   Bitcoin / Dollar
377 5 11
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!
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.
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