BTCUSDBitcoin forms rising wedge with higher highs and higher lows, signals bearish continuation trend.
I am going to follow the price breaks below the trendline and maybe retest the entry point.
Also wanted to take notice of RSI Divergence which hints bearish signal!!
I will open position and take profit regarding to below levels;
BTCUSDShort PositionEntry Point: 55450.00
1st Target: 50500.00
2nd Target: 44000.00
Stop Loss: 57500.00
BITSTAMP:BTCUSD
Thank you and stay tuned for more strategies!
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Trade safe and have a nice Sunday
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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.