MedianLineAnalysis

2 Short ideas

Short
BITSTAMP:BTCUSD   Bitcoin
I'm still waiting for BTC to reach it's Longterm upper median line (about 9000). If reached we should get a correction to around 5k, I dont expect it to go lower but other targets would be around 4000 and 3000. Now if we don't reach the upper median line... Well theres a rule I follow and it works 80% of the time .It says that if price fails to reach the next median line it retraces below it's previous median line. Given that right below our median line a have a gap to 2300. We could see a retracement to around that area.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.