RSI is still overbought so there is plenty of room for MOAR DOWN!
Futures price just can't escape the long term trendline drawn from the peaks of our previous two major dumps. My verdict is MOAR DOWN!
We had a small rally that failed to break our 220 resistance. Open up a short at 221.67 with stop loss at 224 and targetting the bottom of the channel.
Hold Spartans! Slight organic rise above the channel that has no hope of holding as the volume dies off from lack of momentum.
This little rise is nothing but a touch of the upside of our overall descending channel. Add more on to your short position and then grab the popcorn for MOAR DOWN!
Descending channel with bounces up to trendline give plenty of short opportunities. Watch out for a possible retrace up due to the bullish volume divergence.
Instead of retracting the initial drop from 234 down to 220 we are now sitting $2 lower at < 218. The Fun Fake Short is working out well. Market direction? DOWN
There is absolutely no momentum for a retrace after the dump. Since I'm not playing for real money anymore, LET'S FAKE SHORT IT! Target: $200/BTC Stop: $4 rise
I'm done with this market it's been fun but time to go spend the summer out in the sun.
Long position looks secure now that we have a slight push up
I expected a bigger drop but instead we got a solid double bottom in. I've gone long on OKCoinUSD at 234.69 with a stop loss at 232.
We've got a double top now what would happen if we had no confidence in the rise?