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Bitconshort

Long Term Still Short on Bitcoin to 2,000 We are approaching a key level on BITCOIN. What we are learning is that we are taking almost twice as long and expending more buying effort to reach the $10,000 price point versus last time. We are showing extreme extended coniditions to do so. My bias is bearish unless price breaks above $10.300 and starts to show strong price action forming new support. My expectation is for price to break this upwards channel and make its first move down about 25-30% hair cut. Around the $7,000 range. I will be taking some short positions on this trade and will update when trade is active.
COINBASE:BTCUSDShort
by BlackGeekGang
Bitcoin reversing nicely, watch for further bearish action!Bitcoin has started to drop really nicely from our major resistance at 11962 (ABC Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance) and a further drop could occur to push price down all the way to 9470 support (Fibonacci extension, horizontal swing low support). It is important to watch the key ascending support which could result in a temporary corrective bounce. Stochastic (89,5,3) is reversing nicely and has broken our ascending support-turned-resistance line triggering a bearish exit. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITSTAMP:BTCUSDShort
by Tickmill
6