Bitcoin
Short
Updated

BITCOIN Will Fall! Short!

208
snapshot
Here is our detailed technical review for BITCOIN.

Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is approaching a significant resistance area 108,507.32.

Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 105,553.71 level.

P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

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Trade closed: target reached
That was an excellent trade and the target was reached too!
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