ChrisThein
Short

Supply Zone BTC Short

BITSTAMP:BTCUSD   Bitcoin / Dollar
For all of you Bitcoin             traders. Price just hit a weekly supply zone at 500.00. Its a big psychological price point as well. I would wait for a double top at 490 even before going short. There is some RSI divergence on the 60 minute chart. You can take multiple targets on the way down. I would look at 400.00, 333.00, and 285.00. You should trail your stop with this trade. There seems to be a lot of 'irrational exuberance' if you will, driving bitcoin             up lately. I do believe over time it will go much higher. However, price is saying it is over heated. Good luck trading out there.
Comment: Price has fallen aggressively from the 500.00 level. If you put a Fib on the swing high to the current swing low (60min) an 88.6 lines up perfectly with my entry of 490.00.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out