BTC Short - Failed Break Out & Bear Trend Continuation

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
SUMMARY: Short, BTC has fallen back into the bear trend, under long running resistance line (white and broken line).

Expect another 4-6 weeks of the current trading range and is possible to see a test of the $26k support.

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*Not financial advice and is for educational purposes only. Always DYOR.


hello can i use my stop loss to 32800 and i use my stop profit to 31550 for Bitcoin?
+2 Reply
Tez8 jangbogo9
@jangbogo9, thanks for the message.

I cannot provide financial advise ie , if you should trade BTC or not.

On a technical basis, we are in a down trend.

When looking at these short price movements.

Bollinger Bands and Stoch RSI are very helpful assess profit targets.

It is not exactly answering your question but I hope that helps you form your decision.
yes thanks for this 🙏🌹
whales are gonna snipe you out if you set stop loss there it will dip then pump up and youll lose money and so youll lose capital and be in a impossible position to buy back less you set a buy order at back below your stop or possibly above kinda eliminateing the reason for stop loss. trailing crypto.com is great only 2 apps i need to trade decent. i prefer trailing crytpo .coms tale profit long as target/ limit is met. it acts as your stopp loss and allows for profits to creep as high as you let them . depending on what you set offset percentage at you will sell hopefully at the top within . your percetage
@McCoyCRYPTO, I am not sure what your analysis is.

The current market structure is a down trend or bear market.

Are claiming the price action is going up or down from here?