FXHighway
Short

BitCoin: under negative pressure again

BITSTAMP:BTCUSD   Bitcoin / Dollar
124 0 3
Target: 100.00
Risk: 298.00

Technical Reasons:

A double top pattern was completed to confirm the price return to the main bearish trend inside the descending channel, and the price is falling under negative pressure that comes from the exponential moving averages 50 and 100.

The next main station is located at 152.40, and breaking 208.00 level will offer the key to head towards the mentioned target, and the extended targets reach to 100.00 then 62.00.


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