Still in longer term downtrend on weekly & daily
These recent up surges present an opportunity to take short positions in BTCUSD.
We have been in a downtrend forming lower lows and lower highs since January.
Some analysts are speculating that the bottom is in while others see the recent upsurges as bull traps.
While still in the downtrend on longer time frames, I will use any significant up swings such as the one's we have seen over the weekend as chances to enter a short position with predefined profit targets and stop losses.
For a position now ~6600, my profit target is 6100, & my stop loss is 6850. I anticipate that bitcoin will revisit sub-$6000 levels.
We have been in a downtrend forming lower lows and lower highs since January.
Some analysts are speculating that the bottom is in while others see the recent upsurges as bull traps.
While still in the downtrend on longer time frames, I will use any significant up swings such as the one's we have seen over the weekend as chances to enter a short position with predefined profit targets and stop losses.
For a position now ~6600, my profit target is 6100, & my stop loss is 6850. I anticipate that bitcoin will revisit sub-$6000 levels.
Note
$6850 could be a significant point where a lot of buyers come in so stop loss updated to $6825.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.