Technician
Short

BTCUSD: Short Trade Update

BITSTAMP:BTCUSD   Bitcoin / Dollar
1346 0 12
Original Trade
BTCUSD Forecast: Shorts Favored


Trade Update:
Following the trade setup i suggested in my earlier post , the price triggered entry by false breaking the main falling trend line . However, failed to sustain the breakout to settle back below it, establishing a new structure of lower highs and lower lows. And that maintains the overall bearish bias i have. Now, I would suggest adjusting stop loss on this trade as shown on chart above 320.00, and partial profit should be taken at 209.00 support level , with a full target at 152.00 major low.

You can view my long term forecast published 12-monts ago. here
Bitcoin Forecast: The One and Only Forecast


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Regards,
Technician
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