Bitcoin Trading Algorithm

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

What do you expect from Bitcoin ?

There is no secret that BTC in the descending channel and brokeout the great triangle down.
Bears have already tested the level of $ 7800 three times and the probability that they will push the price to at least to $ 7500 very high. RSI is going down to the oversold zone.
Perhaps this is can be a big falling wedge with an upward exit, until the end of November we will be able to more accurately understand whether this is true. The main signal for this will be the breakout of the main line of resistance.

What do we do now?

Fix in USD, trade intraday, by a signal. Follow the situation and trend. A trend is your friend.
Global resistance ~ $8600 - 8800
Local resistance ~ $8100

Market Cap
$145 443 901 667 USD
Volume (24h)
$15 944 496 050 USD
Circulating Supply
17 996 837 BTC

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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