scootaloo711
Short

XBUQ15: moving into bear channel

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
347 0 0
Backstory: The bull channel had an outbreak which returned to the channel. This is sometimes associated with a measured move of the same size but in the other direction. The target came a bit late but also overshot slightly. This is a small indicator for more bearish action.

Current analysis: There is not much rebound to speak of. The sideways ground movement is not choppy. These factors will make it hard to reenter shorts, but also provide a little safety for stops. It is to early to tell the angle of the forming flag. Should the flag be weak (down slope) on low volume it is advised to take profits before it can break upwards. As depicted tough, if the channel holds, hold short until settlement.

SELL 263-267,
BUY 244-248
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