Bitcoin Trend Analysis
Hi guys, hope you are well, it is been a while since I shared my last idea..
Based on the last chart, bitcoin faces a lot of resistance to break out 7300-7400 levels. Daily closes can not break the resistances for a while. If you have a look at the chart, you can see the downtrends, daily MA50, fibo retracement which keep the price stable on this level. Of course, these resistances may become weaker than before but I will try my chance for small position and short bitcoin on this level, set my stop loss -%3 or -%5. It will not frustrate me. But if the pullback will be deeper than the MA34 level, I will enlarge my position.
Thanks and take care of your health.. #stayathome
Sincerely..
Based on the last chart, bitcoin faces a lot of resistance to break out 7300-7400 levels. Daily closes can not break the resistances for a while. If you have a look at the chart, you can see the downtrends, daily MA50, fibo retracement which keep the price stable on this level. Of course, these resistances may become weaker than before but I will try my chance for small position and short bitcoin on this level, set my stop loss -%3 or -%5. It will not frustrate me. But if the pullback will be deeper than the MA34 level, I will enlarge my position.
Thanks and take care of your health.. #stayathome
Sincerely..
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