Auf geht's
BrettduPreez

Bitcoin losing strength

Short
Bitcoin (BITFINEX:BTCUSD)  
BrettduPreez Aktualisiert   
BITFINEX:BTCUSD   Bitcoin
Trend Analysis Chart Patterns
5
12
trendanalysis chartpattern
Seems that Bitcoin is losing momentum from bulls. The ultimate test for now being the 50 period moving average (yellow).
Kommentar:
I do not think that we will see a bull trap. The CCI has no room for one.

www.tradingview.com/chart/boWNv2aI/
Kommentar:
Forming a perfect head and shoulders pattern. If we do not trade higher than 8500 in the coming 6 hours, we are very likely to be going down from here.
Kommentar:
I'm still short. Do not be surprised if this is a Bull trap. We have experienced Bull traps on almost all of the previous stops in this downtrend.
Kommentar:
The fall to 5000 USD has started. There was a bounce of the support formed by the 200 period weighted moving average and the downtrend line. Just a matter of time before this is also broken. Then next target is 7800 USD, which should also easily be broken, taking us further down.
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