Renkotrade
Short

BITCOIN SHORT Bigger Overwiew Support 7200 and 6900 must hold.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello to all watching my charts.
No after the big fall yesterday i think we should have
a closer look to the big picture, cause in shorttime its all
Short , all of my channels show me "short" of cours.

So have a look at the picture.

Where are we now ?

We had a break of the long lasting LONG trendline
4 weeks ago in September.

That has ocurred the first big move down to 8800
and now the next step down to 7500.

Here in these aerea we do have 3 major supports coming in
from May and June 2019.

Now we are sitting in the aerea of the first support at 7500
(folling down a little bit)

Below that Bitcoin can get support at 7200 and around 6900.

If both Levels dont hold i am afraid we will see much much
lower prices.

Thats to watch

Good trades

If you want to support my work please like them...

and if you want to know more about my trading style
please send my a boardmail.

Renkotrade

Comments

@ssari,
IN the aerea 6800 you also see a move up coming ?
correct ?
Reply
ssari Renkotrade
@Renkotrade, yes. definitely. However we cannot be sure if its the new bottom. 5K can also be possible but I find it unlikely because the 6.8k has so much confluence with support, resistance, fib. levels, volume and pattern.
Reply
@ssari, We will need to see what the other momentum indicators say at the time. I have reserved 75% of my buy in at 6.8K and if it over performs, I'll sink the rest there...maybe 6.4k
Reply
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