sniperz
Short

BTCUSD in oversold region - quick short scalping here

BITSTAMP:BTCUSD   Bitcoin / Dollar
285 2 6
1hr BTCUSD             Bitstamp shows it has reached oversold region. It will be an area of "interest".
I expect a short retrace to the blue/orange trendline till it recovers from the oversold region. After that it will make another leg for long.
Order storniert: As it broke the channel and went above, its better to close position now and wait for a better entry on short. BTCUSD is oversold in 4hr too. A small correction will happen sooner than later. Wait for better entry with price action.
Kommentar: And there you go. Price dipped. RSI recovered from oversold position.
Volume is good and selling pressure is still greater than buying pressure.
Price remains in the "area of interest" I expect it to dip a bit further before bouncing up
Good analysis!
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sniperz thelasttrade
@thelasttrade, thank you
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