BH42

£30,000 for another drop?

Short
COINBASE:BTCGBP   Bitcoin / British Pound
RSI still showing a negative divergence. Resistance at £30,000 is also in line with the 200 EMA on the 4HR. This could be the level where longs get trapped, be careful.

IMO this is a dead cat bounce as we go much lower once £30,000 is rejected. Short at £30k.

Comments

Whats the measured move?
Reply
BH42 virtualtechie11
@virtualtechie11, Your guess is as good as mine. I wouldn't have expected a 30-50% drop in some coins yesterday, so who knows how low these can go once longs need to be covered again. I could see a short term base around £20,000 if the £30,000 resistance isn't taken out with some good volume within the next 48 hours.
Reply
BH42 virtualtechie11
@virtualtechie11, Also I was supposed to write the 200EMA on the 1 hour, not 4 hour. If it even makes it to the 200 EMA on the 1 hour it will be tough to break, doesnt even look like it's going to make it there right now though
Reply
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