StealPipsSal

Bitcoin is very indecisive

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin looks as if it is about to start moving in a range. Price never reached exactly where I was anticipating to complete the head and shoulders but price still tanked significantly and there were many shorting opportunities in this area. Price even wicked down all the way to around to 27780, which indicates that I was correct by pointing out that there is massive selling pressure in this area. Price looks to be approaching its all time high and I am expecting price to form equal highs and a double top formation. There is opportunity for a high risk to reward trade by looking for sells in the 34592 and 34821 zone with stops right above the all time high. Targets can be set for the support at the 30k zone. If this becomes a short term range, it is very likely that price will touch that level again since that has proved to be a very powerful support over these past few days.

Comments

this is a retail frenzy. We will correct soon.
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