ghose12
Short

BTC can drop to 5.7k and more.no buy volumes..6660 resistance.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
if came our of wedge it can drop further..two wedges plying inside each other...
Nice idea on BTCUSD and there may be potential gains as you have identified by going short. The 1st resistance level that we have found is at 6809, which is just above the resistance that you have identified. It is a horizontal overlap resistance, with a 50% Fibonacci retracement and 61.8% Fibonacci extension. RSI is approaching resistance and we might see a corresponding drop in price should it react off this level. If a corresponding drop does happen, we have found a major support level at 5890, which is just above the price level that you think BTCUSD can drop to at 5.7k. It is a horizontal swing low support with a 61.8% Fibonacci extension. Excited to see how things develop.

Please take a look at our idea and share with us what you think.


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