TradingView
Traderscope
Feb 15, 2018 3:30 AM

BTCUSD - Possible reversal on 9500-10000 level 

Bitcoin / U.S. dollarBitstamp

Description

Having a look on the dollar index (See the related idea below), we can see a falling wedge which could lead to a reinforcement of the dollar against all currencies including the bitcoin.
Currently we can see on the BTCUSD chart that the price is testing a resistance between 9500-10000. The setup will be invalidated if the price goes above 10500.
In case of validation of the potential reversal the next target could be very low around 3000.
Comments
Zakir-Ahmed
MANY TRADERS SAYING END OF BEAR TREND ...WHY COULD IT GO TO 3K..MAX DROP CAN BE TO 8K I THINK
kesmoments
I would Short it now with ALL my cash now if I were you, $9500 to $3000 is delicious!!! =)
Traderscope
@kesmoments, Do you know the meaning of money management ? If not I recommend you this post :
JUNS
Yeah I'm seeing that trend line. Let's see together how it goes
RickyParker
go to sleep
Traderscope
@RickyParker, I like your comment
More