BTC/USD Idea
This idea is a bit premature, but I think BTC is showing good potential for a reversal. We have a double top formation and (premature) bearish divergence. The price has been driven up recently by speculation and new money coming into the market, and because of this we can't rule out a continuation of the uptrend. For the risk-takers though this might be a good spot to place your bet, at least to retest the uptrend line (black) that held up during the recent flash-crash.
For those who are not so risky, wait for a breakdown of the uptrend line to signal the reversal. If the uptrend line falls expect to see a downturn across the whole crypto-market.
Happy trading!
For those who are not so risky, wait for a breakdown of the uptrend line to signal the reversal. If the uptrend line falls expect to see a downturn across the whole crypto-market.
Happy trading!
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