aritra-b-11
Short

BTC-USDT: One more dive before the big move?

BITTREX:BTCUSDT   Bitcoin / Tether
Hello,

BTC-USDT. I have been watching this chart for past week very closely. This has been a very exiting chart to analyze and predict.
Looks like BTC will make one more dive before moving to upside.

Why I say it will move down?
Well BTC is overbought in Stoch RSI . For a strong uptrend this could have been ignored but today, for BTC it is not the case. Also for RSI and Stoch , both have some room to go down.

Why I think it is the last leg of downtrend?
Well, I am overall bullish about BTC . I think it has the potential to make 30k at least in next 6 months and 100k within 2018. That prediction still holds for me. However, to reach that (insane) level, it needs to have some stops along the way.

Overall I am watching this very closely. I think at this stage, it is best advised to trade this market on day trading / week trading basis.
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