BannaKhan

BTCUSD set to visit 4000 level.

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi traders,

Although I personally do not trade Bitcoin but I keep a keen interest and follow the market closeley for my client. As you can see there are two descending trendline on BTC . Top one is of course the major one and next one also a strong one which is actually a descending trendline within another descending trendline. That makes the chart even more interesting because, the top descending trendline already in place to curtail the upside move beyond that trendline but the second trendline actually restricting the upside move even earlier.

I'm anticipating another touch or two on the 2nd trendline and a major push down and expecting to reach 4000 level in coming months ahead.

Let me know if you agree or disagree with my analysis.

Trade safe and good luck.

Comments

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