Bitcoin (BTCUSD) is still aiming lower. We have a short since $8200 and we think our remaining two targets will hit...
Bitcoin is trading below EMA300 on the daily time frame, so another leg down might happen before testing resistance back up... Here is the chart:
Below you can find the full details of our trade, remember that this is HIGH-RISK and not financial advice.
Leveraged trades are intended for advanced/experienced traders only. If you are a beginner, stick to the altcoins on Binance, Bittrex, Huobi, Poloniex, HitBTC, etc.
Thanks a lot for your support.
______________ Trade: SHORT XBTUSD (Bitcoin)
Leverage: 6X
Buy-in: $8,050 - $8,150
Targets:
(1) $7,900 |Hit (+14.58%) (2) $7,800 (3) $7,700
Stop-loss: Close 4h candle above $8,195.
Liq. price: $9,652 (Buy-in calculated at $8,092)
Potential profits: 30.5%
Capital allocation: 6%. ______________
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Use the comments section below for questions and to share your charts.
Namaste.
_____________ Previous analysis | Bitcoin's Next Move Short-Term ($7,700 or $9,200?)
@alanmasters, You are welcome!
Despite temporary recovery, I see a bearish tendency until the Christmas Eve ...
In the daily: the blue a could rise to Kijun and there turn down again.
The significant levels are in December, it's something like a December Matrix that I noticed.