Longer Idea on the Daily- BTC $4,800-$5,000

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Here's a longer idea based on the last idea I posted. This is the daily chart showing the downtrend we have been in for several months. If bitcoin can break out of the top of this channel ($6,400+) and close there, I will start a more bullish outlook. At the moment, I am still bearish and expecting a drop to $4,800-$5,000 in the next few days/weeks. Another great buy zone is $5,500. I will likely buy 25% of my position at $5,500, 50% at $5,000 and 25% at $4,800. If we break to the upside, I will re-evaluate.

Not financial advice. Good luck!


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