BTCUSD - 30% Cyclical Short Trade? Be Conservative Down Here

Hey guys,

Hope everyone are well.

We are looking at a falling wedge pattern on the 4HR and trading below the EMA50. Crypto is in full blown panic selling mode and this offers a VERY SHORT opportunity to short trade with the trend.

Confirmation of trend continuation is below $3213, with targets at $2615, and $2099 on Bitstamp. Above $3581 this idea becomes invalidated and we'll need to wait for consolidation to identify a new pattern with exit/entry level.

ATTENTION: Shorting down here comes with additional margin cost and liquidity concerns.

Last week we were looking to catch a countercyclical swing trade to the upside, but that didn't play out. The idea below was invalidated and no trade should have taken place:

Keep in mind the longer term picture. The price levels we will trade at in the coming weeks will offer very good longer-term long trade prices:

Commentaire:

Next two days should be interesting:

MCAP

BTCUSD

Commentaire:

Still bearish

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Watch for breakout!

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Its happening:

Don't forget big picture:

Commentaire:

False breakout! The daily candle refused to close, so we are back to consolidation...

Mcap:

Commentaire:

We are about to kiss the .382... this is a make it or break it moment!

Ordre annulé: