BTC Sell the downtrend.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD - Intraday - We look to Sell at 38088 (stop at 39061)

Daily signals are bearish .
Trend line resistance is located at 38000.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
Preferred trade is to sell into rallies.
Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
20 1day EMA is at 38000.

Our profit targets will be 35706 and 34851

Resistance: 38500 / 39500 / 40500
Support: 37000 / 35500 / 34000
Trade active: Sell limit filled at 38088
Trade closed: target reached
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I am gonna let this fizz out. It's better to let the cool off happen and then enter. here is my analysis:
It will attempt to break if fail expect 33k min
Agree with you !
Great analysis and post!
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