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jminami3
May 18, 2019 7:03 AM

Bitcion Trading Plan For May Short

Bitcoin / United States DollarCoinbase

Description

Limit buy at 5,850
Sell bounce
Limit buy 5,100
Hodl

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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