CognitoBTC

BTC Update on Daily

Short
BITSTAMP:BTCUSD   Bitcoin
Update to the older post - Here is the original idea on BTCUSD Weekly TF. Sorry I accidentally selected the wrong button e.g long instead of Short..

As the market turns red and political circumstances changed our sentiment to the bearish side had more strengthen. The current structure of Bitcoin clearly shows that Bitcoin's decline has been ensured.
We are currently below all important Moving Averages, vwap including all other indicators such as IChi, RSI and TD9. The overall Price action clearly indicates we are about retest the lower Support zone Between 29600-31900 before that we may see local bounces of 1-2K dollars on each hourly session. we badly need bulls to come in otherwise we may not sustain this area of 34-35800 since we do not have significant level below 33600 until 29600-31900 area. IMO if you plan to long just focus on small scalps not with big targets because bulls lack volume here only in the tight range with SL--

happy trading

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