Monis

short covering at $5900 support but no trend change

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
BTC Daily: Market could be entering on to a bouncing mode. I see positive divergences above $5900 support and there are levels we have to test as resistances (mainly old trend line support which are now resistance) before we continue lower. Enjoy the bounce, as short covering develops. Hard to say how much it will last or how far it will go but I think it will be powerful enough to square lots of short positions. $4700 remains my ultimate target. #notaninvestmentadvice #pleasedoyourownresearch

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