Why I am still short

BTCE:BTCUSD   Bitcoin / U.S. Dollar
Support became resistance. If this keeps going, we will face the <600s in a few days. But keep in mind that 600 will be a natural resistance line. Like the 550 and 500. I am pretty sure that we will meet at 450 again. Proof me wrong because I am still owning Bitcoins . Bought them, when one was worth around 50-90 EUR.

I try to get in a short entry position while the price is near the resistance (former support) and take some profits here and there - normally when the price is near the support line.
Looks like keeping your short open was a smart idea.
+1 Reply
Kaspar ChartArt
Thank you ChartArt. I was lucky to made a few bucks today. Closed some orders between 603 and 604 :) If I only had more time, I would try to trade between the resistance and support swing.
good job on your trading and the chart. Meeting at 450 again will not happen for now, the only reason we reached that stage was bcse of continious bad news for 6 months from China which now really exhausted its chances of getting worse. I think we could see 575 but not lower unless July ends without the anticipated rally by the bulls.
+1 Reply
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