BITCOIN Short TRADE
Updated
Bitcoin price is struggling to remain above the $4100 support area against the US Dollar.
There is a key bullish trend line with support at $4150 forming on the 4-hours chart of BTC/USD (data feed from SimpleFX).
The pair is heading towards the trend line support at $4150 and might attempt a downside break.
Bitcoin price is finding it hard to stay above $4200-4100 against the US Dollar. More declines towards $3900 is likely in BTC/USD in the near term.
The pair is approaching the trend line support at $4150 and remains at a risk. If sellers manage to break the $4150 support, there can be more declines. The next target could the $3950 level, which is a crucial support. On the upside, the 100 simple moving average (H4) and a connecting trend line at $4450 are major barriers.
There is a key bullish trend line with support at $4150 forming on the 4-hours chart of BTC/USD (data feed from SimpleFX).
The pair is heading towards the trend line support at $4150 and might attempt a downside break.
Bitcoin price is finding it hard to stay above $4200-4100 against the US Dollar. More declines towards $3900 is likely in BTC/USD in the near term.
The pair is approaching the trend line support at $4150 and remains at a risk. If sellers manage to break the $4150 support, there can be more declines. The next target could the $3950 level, which is a crucial support. On the upside, the 100 simple moving average (H4) and a connecting trend line at $4450 are major barriers.
Comment
Target Reached, bearish trend confirmed. Next points are 3500-3300$.Profit 650,$ for 1 Bitcoin.
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