Dear traders,
Here is a quick update for Bitcoin.
We may possibly see a rebound here. We are looking at this 4 hour chart of Bitcoin BTC and the formation of a falling wedge.
This trade is not without risk but Bitcoin is now very oversold and we have a very nice positive divergence!
The decline is heavy and fast. Stops are hit and traders liquidated. Watch the volume spikes it marks often the end of the decline for a while.
Mid term Bitcoin is still very bearish! See my other analysis but rebounds happen , yes we go up and down in waves.
Traders, always use stops and money management!
Trade safe guy's! I Wish you all good profits!
This is my personal view on Bitcoin and no advice to trade Bitcoin! Do always your own research and of course place your stops en do not risk more than 1 % on each trade!
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