Tickmill
Short

Prepare to sell bitcoin - wait for a beautiful fall!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
On the daily chart we have a beautiful candle-swallowing - an obvious bearish signal. Since we do not have levels in proshom, on which we can glue our candles, we take the psychological level at 4000 as a benchmark. But it is this psychological level that has not been knocked back (not returned under it) and our absorption may be a common trap.

Of course, you can sell bitcoin at the next day's opening (or wait for a rollback to the middle of the takeover, and then just go into sales), but it's the 4000 mark that is the rubicon for which everything will be decided. The sale above 4000 still carries risks.

If the variant with a fall materializes, we are waiting for the target at 2200, from where it's safe to buy crypto currency.

Oleg Svirgun
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This analysis is provided as general market commentary and does not constitute investment advice.
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