lukelehepuu

BITCOIN SHORT OPPORTUNITY?

Short
BITSTAMP:BTCUSD   Bitcoin
I do not trade Bitcoin hugely but it will be interesting to see if the use of the MACD and how I normally use it transitions onto this security.

The MACD is about to crossover (shown on the chart) and as I am a contrarian, I would like to short Bitcoin. The fact it has volatility where other securities might not also makes this more of an interesting play. If you also add in a bollinger band you will notice price is starting to peel away from the upper 2 standard deviation band.

Because of this volatility I have got two targets, in case target 1 gets ripped through.
Disclaimer

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.