BTC/USD - WE ARE GOING TO THE MO---- wait a second...

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Played around with the fib channels on the largest time frame I could find on TV and guess what, it does not look good from here. This chart is telling me to short until
1.5k. The tether news is causing a lot of speculation. This is exactly the time not to try to make assumptions of what might be going on, in terms of the news, and instead check your chart to make sure you understand the overall trend. By this I mean get the biggest time frame you can find and chart it. I hope this chart doesn't play out, but its better to be defensive when trading in my opinion. I heard a great quote today: "once you stop losing money you'll start making money". Good luck everyone.

Target 1: $1500

The red line indicates my target.
This is a log chart.

This is not financial advice. All charts shown on my page, including this one, are just for fun.

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We will see how the month ends in 2 days. Good luck on your trade!

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