BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin is testing the curved ascending support as showed in the attached image. SL 5,800, TP 7,200
"Curved ascending support" - did you just make that up?! Bitcoin is testing the $6250 support level just as it has been doing since mid-June... no need to make things any more complicated than they are.

With such negative market sentiment I fully expect your stop loss to be triggered, so a likely losing trade I would not recommend anyone enter until we move OUT of this channel. The current risk/reward ratio is just not there.
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NunoMenano BCryptological
@BCryptological, what do you think today?
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BCryptological NunoMenano
@NunoMenano, I don't think anyone should be trading right now, this is the end game of many many months of market structure and it could break either way. That said, your high-risk trade is in small profit, which is good.
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NunoMenano BCryptological
@BCryptological, Look at the chart
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BCryptological NunoMenano
@NunoMenano, Yes, it's constantly bouncing between your risk and reward zones, with no clear desire to ever reach your target (and no I'm not including the 15th Oct spike, which was solely due to Tether uncoupling from USD).

Of course a clever/lucky trader can make some profit at the moment, but frankly you'd be better off doing so in XRP than BTC - especially at Stochastic RSI indicates we are likely to fall back to $6250 again next.
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