DollarsNSense

Bit coin still flushing out the Sellers

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Yesterday we looked at the level of support that exists on the Monthly timeframe for Bitcoin . The inverted Head and shoulders I was looking at on the 4hr chart has broken down, but nothing has really changed. There are no longs we can initiate until it breaks through and retests the trend line . This gives us an advantage as Bitcoin shorts can continue to sell until the sellers start to dry up under the trendline . I'm still over all interested in the upside in Bitcoin just not yet. Today we sit and wait!

Comments

flushing out dumb money buyers as well. going to go down past support to deliver final blow to any optimism. market is completely rigged and preparing for a wealth transfer from the elite to the elite again.
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