XanderCrypto

Bitcoin Short Opportunity [BTC/USD]

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Just a quick short opportunity.

No firm break and hold over the 9.3k makes me think it's not all upwards from here. Neutral candlestick on the 4hour, slightly bearish on the 1hour.

Wave Trend Oscillator- Turning on 1 hour, not fully established wave on 4h.
RSI- Points down on both towards line of support.
Volume- Selling volume strong on the 1hour for the duration of the candle. Not too convincing for the first 1.5 hours on the 4H.
Market Bottom- No flag on the hammer candlestick we currently have.
Momentum really squeezing on the 4hour.

We NEED to close below the 25EMA on the 1hour otherwise this short can't occur and there needs to be more selling volume on the 4h.

Waiting for a firm break above the 9.45k (check red horizontal ray on the 1h) before a bullish move will happen, if the 25EMA does hold I expect good tings

I'm not a financial adviser and nothing I say is a fact, any losses made through these decisions do not hold me accountable and you should never invest more than you're willing to lose.

If you liked this short post, be sure to follow and like. It really helps out :D

~Xander

Trade active: We have just hit the tip of the zone once, however.. the wavetrend has turned down on the 4hour and the rsi has been contained with lots of movement to head downwards. The candle is pretty bearish on the 4hour too.
Trade active: Sell volume is pretty strong on the 4h, room for downwards still.
Comment: Could fly through the 8.4k if the volume remains, and we would open a new short.
BTC DOWN
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XanderCrypto viruseskom
@viruseskom, We don't know yet :D
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