Investroy

BITCOIN, trading within a descending parallel channel

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
As it can be clearly inferred from the chart, the price has formed a beautiful parallel channel and is now located at the upper boundary of it. Massive wick rejections can also be identified, which indicates a weak bullish pressure around the area of resistance. We are now expecting the price to keep dropping and reach the area plotted on the graph.

Feel free to drop your thoughts and opinions in the comment section below, family!
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Comments

You've been liquidated
+22 Reply
and as expected, this dumb post is proved false literally the next available opportunity.
+8 Reply
well done
+6 Reply
@MMBTtrader appreciate it!
+1 Reply
I expect there is at this moment no reason to go short, as the trend whales can increase btc to 40K again.
+5 Reply
you were saying?
+4 Reply
I am also bearish bro
Well done
+4 Reply