BTCUSD: Short term trading plan.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin had a positive session yesterday, during which it made a new Lower High within the 1D Channel Down ( RSI = 34.634, MACD = -439.400, Highs/Lows = 0.0000). It appears to be reversing now, keeping the Channel Down intact with a potential downside target (and Lower Low) at 7,500.

However based on the RSI sequence, a new inner pattern may be emerging and that is a Triangle that can limit the current reversal to only a Higher Low. As a result shorter term traders may only settle for a 7,840 downside target.

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Ouch, go short and get ruined, lost count of people calling it wrong
Nice work looks like we're moving towards the bullish zone most likely prices will retrace from 200 daily ma and could retest 7950 zone which could give us a perfect opportunity to execute our long positions however bottom upto 7500 looks unlikely for now coz bulls have beautifully protect the 7800 zone so most likely a new rally could take in action from here to keep moving prices upto 9070, 9250 or even 9750 zone
Great news about bitcoin today.
Sadly this one took a turn

Interesting analysis. this is my take on the actual situation
Good work!
This is my recent idea about Bitcoin
Please share your thoughts on this
our idea which is working just like we predicted, any thoughts?
+1 Reply
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