BTCvsUSD
Updated
BTCUSDHello everyone. It has been a while since I last posted a chart. Since January I was hoping to see a better recovery for btc. Perhaps a 6k range would have been nice to give some relief to the market but now btc is trapped again in the daily. The weekly opened up strong but if the daily fails to recover it will definitely drag the price down on the weekly as well.
As of now I am leaning towards a short but very cautious because btc still has some chances of push up. Looking at the monthly I still have strong short sentiment I was just hoping to short at a higher price.
If indeed we end up falling, my first target would be $2900 range for this leg down. Time will tell. Not a very comfortable level to place a trade.
Trade with caution.
Your money, your choices.
Note
This was the previous set up for the rally and we failed to break through the risk zone. Note
BTC still struggling to break the killer MA. the RSI also facing some resistance now and a breakdown is getting painted clearer now. I would think longing this market now is probably a poor choice but your money your choices. I am holding my lower target at 28-29 range. Happy trading.
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