Bitcoin rejected from resistance on Daily chart and now moving downwards for correction.
So, a good time to open a short position.
Entry Price : 43100-43200 or below
Exit Price : 41500-42000 (Take Profits where you want)
Stop Loss : 43800
If we get some bad news we could profit from it.
If we get good news we have a tight stop loss.
Happy Trading!
Current Position:
BTC is at Support. BTC tried to break the downtrend on daily level but got rejected.We also have a CME gap
Conclusion:
If no bad news emerges in the market then we expect BTC to try break the downtrend again but a good volume would be required.The RSI is indicating a cross over which would prove fruitful.
I would open a long position and take...
