TradingView
Technician
Mar 5, 2015 3:16 AM

BTCUSD Forecast: Shorts Favored Short

BITSTAMP:BTCUSD1D
Bitcoin / U.S. dollarBitstamp

Description

⋅
Update: Trade is active

This is a hypothetical trade.
However, Technically, a trend following trade looks imminent.
  • The overall trend remains bearish
  • The retraced towards the main falling trend line
  • and 50 percent of the latest bearish wave
  • Another key horizontal high is at 310.00.
  • RSI near overbought

Having that said, odds favor a short position.

thefxchannel.com/ , vote and subscribe
Comments
YaKa
⋅
Absolutely - Unless it passes 310, Nothing really changed on the direction.
Technician
⋅
This trade should be active if i was trading bitcoin :)
More