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TheCryptonite
Jan 19, 2020 1:55 AM

$BTC Breaking-point Zone Short

Bitcoin / U.S. dollarBitstamp

Description

Hi guys,

Macro-view: I believe we are still in the downtrend channel since ATH. Bulls need to flip SMA200 and 9.5k resistance (and last higher-high) into support for trend reversal.

Bulls: Weekly close above SMA200, then expect to tab upper channel line on 9.5k. Uptrend next target for profit taking will be 10.5k and 11.5k.

Bears: Weekly close below 9.15k / SMA 200 then slow-bleeding to EMA21 and EMA55 crossing at 7.7k then to last support at 7.2k.

Keep it simple and trade in the range.

Cheers !

TC

Comment

9.5k - 9.6k is potential shorting area, if we close over 9.1k -9.2k.
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