FXHighway
Short

BitCoin targets the historical lows

BITSTAMP:BTCUSD   Bitcoin / Dollar
132 0 4
Target:: 150.00
Risk: 265.00

Technical Reasons:

Bitcoin             price broke the ascending channel’s support to fall under negative pressure that we expecting to push trading to head towards the previously recorded low at 85.00.

The exponential moving averages 50 and 100 form negative pressure now on the short term trading, which makes the decline waited for the upcoming period.

Breaching 265.00 upwards will open the way to stop the current bearish bias and push the price to rise again.


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