Last week BTC suprised us, and went up a lot, but right now its on very important level. It's time to decide where it will go.
BTC crossed downtrend level and is just about strong resistance level at 7800. If BTC will pass resistance, it probably will go up more, but in my opinion, there is stronger possibility, that BTC will reject this level and continue downtrend at least to 5800 USD.
I'm starting to open small shorts positions today and look how situation will develop. My stop loss will be right above the resistance level.
BTC crossed downtrend level and is just about strong resistance level at 7800. If BTC will pass resistance, it probably will go up more, but in my opinion, there is stronger possibility, that BTC will reject this level and continue downtrend at least to 5800 USD.
I'm starting to open small shorts positions today and look how situation will develop. My stop loss will be right above the resistance level.
Comment:
Maybe I did it a little bit too early, because everything can happen now, but my shorts are there already. 4% up until yesterday, and BTC still fighting with resistance. This will be interesting.
Comment:
BTC went up yesterday about 10%. This huge jump was probably effect of stop-losses, that was above resistance level.
I still can't believe that it's the end of downtrend, so I reopen my shorts and keep it at least to support on 7790 (previous resistance). I strongly believe, that price of BTC will fall.
I still can't believe that it's the end of downtrend, so I reopen my shorts and keep it at least to support on 7790 (previous resistance). I strongly believe, that price of BTC will fall.