Let’s look at the BIG picture!

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Looking at the big picture still doesnt look good for the BULLS!

If you take out the red herring of the big investment that got the one day big break out then we are still firmly in an unwind and didn’t manage to break the Pivot point on the daily charts , so could still see further unwinding on Bitcoin .

We have a small trading volume in the green today but even with this the gains have been minimal.

The Stochtastics is fluttering around the over bought and over the next week I see it testing the 7.5k mark again, if this is broken and held on the 4hr chart I wont be opening up more shorts until the bearish trend is confirmed.

NOTE I am currently LONG on acverage across my positions so hedging out any more slides that I think are on the horizon! BUT just Incase it is very prudent to keep a LONG position just Incase a major breakout happens again!

If you want to have a look at my trading positions please check out my portfolio by searching ‘willscuba’ http://partners.etoro.com/A71574_TClick_...
Could be the beginning of the roll over....
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