Bitcoin sell the downtrend. Short

Bitcoin / U.S. dollarBitstamp

Description

⋅ Jun 17, 2021 12:15 PM

BTCUSD - Intraday - We look to Sell at 39584 (stop at 40505)

Daily signals are mildly bearish.
Trend line resistance is located at 39600.
Broken out of the triangle formation to the downside.
We look for losses to be extended today.

Our profit targets will be 36848 and 35848

Resistance: 39800 / 40500 / 41000
Support: 38800 / 38000 / 36800

Comments

Dawood0104

⋅ Jun 17, 2021 4:59 PM

hope this plays out. 38k is a tough support though. Thanks for the analysis :)