MrVolcano
Short

Bearish continuation

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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3
64 0
Reason for trade:

- Massive red daily candle rejecting trendline resistance.
- Signs of potential continuation to the downside (flag)
- RSI and Stoch RSI support broken
- 4 confluent resistance factors make bearish continuation most likely outcome.

Target: a retest of weekly 200 MA ( gold )

SL: 3800 -
Allow a wide SL due to potential volatility , especially with the potential for weekend manipulation.


4 Hr Chart


Weekly Chart
Trade closed manually: 22/01/2019 21:11 - Closed manually at 3556.5, after what looked like some bullish price action.

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