jakedubbz

BTC - Weekly Short Trade

Short
BITSTAMP:BTCUSD   Bitcoin
Currently at 78.6% fibonacci retracement, should this hold on the higher timeframes I would expect a downturn from here.

Lower timeframes look good, Daily closes on or around the retracement around $57K is what im expecting.

This could be pricing in some negative news coming in soon, around the 15th - 18th October with the US Government running out of money.

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.