Bitcion Trading Plan For May

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Limit buy at 5,850
Sell bounce
Limit buy 5,100

Bitcoin is prone to 30% and 40% corrections specifically after small parabolic runs. Levels that I am closely watching are the 5,850 and the 5,100 which are 30% and 40% down from the last top.

Both of these levels coincide nicely with the fib retracements of the last move so I am expecting support at both of these levels.

RSI will have momentum coming down to trend line from overbought territory and should find support on the 47 level.


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