Bitcoin's attempt to get past $4,600 was rather weak and showed signs of exhaustion. A dip down to 0.382 fib area is very likely before taking its price up a notch. It would not be a bad idea to buy the dip at $3800, which falls on the area that crosses with the trendline.
Trade closed manually:
Given the negative news from China, I am closing this trade as I believe that price will fall sharper as panic selling kicks in when the news spread in the next few days.
Trade active:
I believe that our trendline around 3800 will be a good trade exit for those who are shorting. I will continue this in another chart.
Trade closed manually
Comment:
