On The weekly chart, we see that btc is in a area which has served alternatively as support and resistance since february 18. During the weekend btc has tried to break that resistance but has been rejected.
If we consider the chartist pattern (descending triangle) formed for weeks now, we can say that btc is testing the bottom of that triangle before continuing its downward trend (it is a throwback).
On the daily chart we see that price is inside the kumo, the trend is bearish and the oscillator is near the overbuy zone.
All the above increases the probility for btc to fall. So we should go short on btc this week.
Entry: 9589
SL: 9756
TP1: 9014
TP2: 8273
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If we consider the chartist pattern (descending triangle) formed for weeks now, we can say that btc is testing the bottom of that triangle before continuing its downward trend (it is a throwback).
Entry: 9589
SL: 9756
TP1: 9014
TP2: 8273
Trade btc and other altcoins with leverage (up to x100), join bitmex.com. register here:
https://www.bitmex.com/register/t3PaY8