BTC/USD - Short Till 5600

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
More shorting is coming up for BTC /USD as the current price area does not seem to be a strong enough support area for it to reverse back up.

We can expect it to go down until 5600 for now.

As always, risk manage properly and always trade rationally.

Happy trading!
Comment: For those that are uncertain about the move, we can wait 24 more hours for the confirmation.
Comment: It is yet soon to enter a short or long position on the long term. This could potentially actually be a reversal and not a continuation further below if prices keep acting strong.
Order cancelled: The support was not broken and thus the price of Bitcoin moved higher. Wait for a pullback on the 8 hour chart. Wait for a pullback and a consolidation to go long. Going long right now could be a trap if the pair fails to reverse.

So simply wait for the pair to show some good bullish momentum.
Comment: Next move up if current support holds above ema.

Comment: It never hurts to wait for more confirmation before entering a move!

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.