Crazylambboy

Bitcoin is likely to usher in a short-term rebound

Short
BITSTAMP:BTCUSD   Bitcoin

Talented people do not necessarily have good opportunities; being underappreciated requires less lamentation and more reflection. There is no need to be impetuous in life; the more others look down on you; you have to calm down and examine your own objective conditions before you may find a way that suits your talents. If a person wants to achieve success in his own business, he will be unable to achieve anything if he has the shortcomings of frivolity and impatience; he needs a serious and down-to-earth style to do anything

Bitcoin pierced the bottom of the previous session yesterday and hit a new low. So far, the first phase of the decline has been completed, but it is still 400 points away from the key support of 21500, which is a flaw. At present, the probability of a rebound here is gradually increasing. Since the trend is still short, it is mainly to sell on rallies. Bitcoin operation recommends selling at 23600, risk control at 24200, target 21500~21400. Or drop to 21400 to buy, stop loss at 20900, target 23600.

Bitcoin bearishness is based on the following:
1. Although Bitcoin has fallen from a high level to near the previous platform, the general trend is still dominated by short positions.
2. According to my personal analysis, the five-wave rise of wave A has all ended, and the current fall of wave B a is close to the key point. If it stabilizes here, there may be a rebound of wave B b.
3. The upper pressure is 23500~24000, and the lower support is 21500~21400.

Traders, if you like this idea or have your own opinion about it, please write in the comments. I will be happy 👩‍💻
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.