BITCOIN, strong Resistance hence going Short opportunity

28 avr. 2020

Bitcoin has recovered massively since the last crash on March 13, but it has still a positive correlation with global market trends. It has broken a few resistance levels since that time but as it goes higher, it will face more strong resistance. As you can see on the chart, in the next few days, two long term moving averages are crossing each other near almost $7920 - $7950. I think that intersection will create a strong resistance and there is an opportunity to go short.

28 avr. 2020

Note

Short position parameters
Triggering Point: ~$7950
Entry Point: ~$8000
Stop Loss: ~$8275
Take Profit: ~$7650