BitcoinShort
Bitcoin broke down from the range, heading towards buy zones
Updated
Chart is self-explanatory. It's very choppy and impossible to trade. Most high-lev trades are getting stopped out and/or liquidated.
I'd be short or sitting out in FIAT. These two zones look good for a reversal. Trending below 20MA and 200MA on daily atm, so the trend is in favour of bears. No reason to long below 200MA unless a V-shaped bottom occurs or there is some significant change to the structure. This is just heading down regardless of what bulls say. Could be a massive ABC down to around 6.5K but I'd rather not see that scenario materialise.
I'd be short or sitting out in FIAT. These two zones look good for a reversal. Trending below 20MA and 200MA on daily atm, so the trend is in favour of bears. No reason to long below 200MA unless a V-shaped bottom occurs or there is some significant change to the structure. This is just heading down regardless of what bulls say. Could be a massive ABC down to around 6.5K but I'd rather not see that scenario materialise.
Note
Target 1, (buy zone 1) tagged on Bitmex.Trade closed: target reached
TARGET REACHED. PINPOINT PRECISION. Waiting for reversal confirmation.Trade closed: target reached
2nd target reached. Correction complete.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.