FXKillA

BTCUSD going bearish soon!

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
As it shows us on the daily & 4hr chart, BtcUsd reached it highs on the RSI indicator and it’s forming the double extended top (M shape & it’s forming 2nd leg of the M) well that’s a clear sign for the next move for BtcUsd , & that’s plus the confirmation we got earlier regarding the divergence on RSI indicator. I’m going sell. Happy pip hunting traders

Comments

I’ve been waiting for this to supposedly turn bearish for at least a month. Chartists have consistently made bad predictions on BTC
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consolidation can also cause the RSI to reset itself, doesn't necessarily need to go bearish. Its possible, but not a certainty.
As kitten said, Its been constant "its going to go down again" over and over for a month now, and every time BTC went against expectations, exiting all positions is risky.
(Although maybe Im just salty because I exited a trade at 43k hoping for a better position but..oops)
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@ahrirome totally 💯 I agree with you & I respect your point of view, never trust these markets but I believe it going to drop down for a correction. All we have to do is wait till it cross my entry point then I’m good on sell. Sorry to hear about your loss, you can still make it up, believe in yourself.
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But actually it did drop nicely the beginnings of last week but it picked up strong but definitely it’s going to drop down more this week. Keep an open eye on it. Good luck & happy pip hunting.
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