badbeatnuts

BTC/USD Short term possible movements

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hello hello,

Short-term hopefully not weather forecasting here guys. RSI and STOCH trending high atm. We should reach MA 20 @ $6,720 level and bounce back to hit the newly established uptrend support forming either a double bottom or a lower high. Regaining strength at that level and then pushing through the 20 MA giving us a signal that we would also break the descending main trendline unless at that point of time they coincide at the same point like the previous high had lots of resistance.

Aggressive trade:
Short: $6,720 when we reach 20 MA
Stop loss: $7,100 if we breach 20 MA and trendline
Close: $6,270 switch to long but check again if we are to go further down

Safer trade:
wait out the zig-zags short-term and enter only when
Long upon break of 20 MA and trendline at > $ 6,950 given a 4h candle close.
Stop loss: $ 6,650

Cheerios !
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