The chart shows evidence for Bitcoin to bounce between two daily zones. Demand and Supply alike. I have identified two strong zones where we can trade the bounce. Given the BTCvolatility and its quick price movement the opportunity will materialise relatively quickly. IMPORTANT: Drill down to 240min to see get clearest picture of short term opportunity.
Demand: Bitcoin bounced from our demand level. Take your Stop to break even and we are safe not to lose. Keep in mind that we are in a strong downtrend!
Supply: Have your trades placed as outlined. There is an easy 4:1 profit potential
Trade closed: stop reached:
Supply level did not hold .... too bad next opportunity is around the corner