bourbon44
Short

BTC Short Opportunity

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
86 1 2
Price has just hit the 61.8% retracement on the wave down from 9/5 to 9/22. Additionally, price has passed the weekly pivot without touching the weekly pivot . It has been ages since price has passed the weekly pivot without touching. Look for it in the short term to head back towards the pivot at approximate ~ 231.

Entry - Market short
SL - 241.5
Short term target - 231.5
Longer term target - 221.5 (where the last weekly pivot was skipped)
Hi all,

This hasn't played out as quite anticipated. If you did enter around 240 you might have been able to book a little profit. As it stands right now price bounced off pretty hard from the 200 EMA (black line) and formed a nice little bull flag. Currently, 2nd level resistance is around 245 with the 400 MA at 247.75. Assuming that price can get and stay above R1 it very likely might make a push up towards R2 about when the 400 MA approaches 245. Good luck to everyone.


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