BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello, Traders!
Monfex is at your service and today we overview BTC/USD.

We clearly see the resistance zone of $ 9,000 - 9,350 and resistance line of the descending channel , with MA200 that is also like our resistance tool for now. Bitcoin has the bearish formation: after the downward impulse - consolidation - second falling impulse will be more likely. But it's also can go up to the resistance zone , with a local bullish divergence by RSI as we see.

40% probabillity

Supposed Trade Signal by BTC/USD
  • Sell near $ 9,200
  • Take profit ~ $ 7,385 - 6,757
  • Stop at $ 9,610

60% probabillity

Supposed Trade Signal by BTC/USD
  • Sell near $ 7,630
  • Take profit ~ $ 7,385 - 6,757 - 6,130
  • Stop at $ 8,120

Share your thoughts, ideas about the market under the chart.

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This report is for information purposes only and should not be considered a solicitation to buy or sell any trading assets. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
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40% chance looking good
+1 Reply
@Msparky, very possible=)
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