NeoButane
Short

$BTCUSD - Looking bearish short term, shorting opportunity

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
$BTC has been unable to breach resistance, going sideways against it. If it continues to go sideways, eventually it will tire out and we'll drop to support; the next supports are around $7700, $6900, and $6300. Although there is no support line around the mid $6000s, it is fully possibly for a rebound around that area due to how cheap it is and close to the bottom.

On the 5m interval:

if you zoom out you'll see the whole situation.
we are currently on the lower edge of this yellow bearish channel, let's see how BTC will react, maybe a little pullback is needed for going through.




Reply
@N3X74R, interesting, thanks for the perspective, I can see that playing out as well. Are those self drawn trend lines? It looks like a Fib channel in the back.
Reply
N3X74R NeoButane
@NeoButane, all these support and resistance lines was traced only with my eyes, you just need to watch where the price actions react.
Reply
@N3X74R, Thx! Question, At 12,000 BTC broke through the channel. That would be for me a signal to buy some, but then it just plummeted. What would a breakthrough now really mean or confirm, it could just fall back into the channel again...or not.
Reply
N3X74R userbeauty
@userbeauty, weak movement i think bear is confirmed, back testing the support lines.
Reply
@N3X74R, thx! I wonder what will happen to the volume when binance is back online. That may be a defining hour.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out