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AyKay-Trading

Rejection of the MA 50 (1h)

Short
Bitcoin (BITFINEX:BTCUSD)  
AyKay-Trading Updated   
BITFINEX:BTCUSD   Bitcoin
Trend Analysis Chart Patterns
3
0
trendanalysis chartpattern
  • The Moving Average 50 (1h) seems to be a valid indicator for BTC -0.44%
  • Bear flag is forming
Comment:
- Bear flag broken (bearish signal)
- but support found at EMA 200 (4h).
- and oversold RSI (4h)

We could find some sort of resistance at this area but if BTC goes below 7,200$ the next support is at 6,700$

snapshot
Comment:
Next target: 6,375€
Comment:
USD not €.
Next target: 6,375$
Comment:
Next target 5,800$.
Even in this scenario a correction up to 6800$
Trade closed: target reached:
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