killa007

Btc short, looks like we are going down

Short
killa007 Updated   
BITSTAMP:BTCUSD   Bitcoin
Looking at chart it looks like same pattern as with previous 50% bullish breakout but for me it looks like bull trap. Macd is going down for quite some time now and so is RSI, before previous breakout, RSI was going up, now its going down. Daily chart shows even better big drop in RSI. Since the first peak to 2700$ RSI reached its biggest value and at next 2 ATH RSI was only going down which is signaling reversal of trend. If we close above top blue line this will be buy signal but I think this is not gonna happen and now is good time to sell, as I see first retest 2360$ with one possible up to 2460 and then down to 2050-2100, might go only down after break 2360$. After that we will see how strong bears are and if they can push it even more down which would be around 1800$. Lowest support line is at 1200-1300, dont expect to go this far yet. As for alt coins, they are all red except for some exceptions. I expect all my other trades will go as expect but we need btc to go sideways so money comes back into alts. This month might be a bit shakly, lets see.
Trade closed: stop reached:
btc broke resistance, looks like we are going up, I am just waiting for closing above on daily chart so confirm it, but i think btc should be safe buy now.

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