Attrition

BTC Short From the Tenkan-sen

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Short at 7330-7350
TPs: 6700-6300-6000-5700-5400-5150
Trade active: 6700 Reached.
Final target may be 4800-5000.

Comments

Looks like a logical analyis
+1 Reply
So we need to recover to $7300 to activate this trade setup?
Reply
Attrition bsbcrypto
@bsbcrypto, We might not go back up to these levels but as you can see on the chart both the ma of the bollinger band + tenkansen(blue line) and kijunsen(red line) are all almost at the same point which creates a huge resistance so with the bearish trend that we have, going above these numbers are very hard right now, so a great short spot.
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