Bitcoin (BTCUSD) - Short

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
MS break at $18,700

$16,400 first support level , likely will retrace to 0.382 fib retracement from $5k bottom to $19.5k top ($13.9k) - first target. Second target 0.5 retracement ($12,200).

Will build long position at $13,900 down to $12,200.

Expecting the to happen in relatively short order (Mid Dec).

Good indicators to observe will be futures backwardation and negative funding on derivatives.


Thx for sharing. Would u mind sharing the name of the indicator on the right? Where i guess shows buying pressured at 12k.. thx in advance!