BTC - Pop n Grind Down Continues Jan 30 2018

BTC this am is trading arounf 10800 and at the bottom of the blue triangle. It either will trade up to the 11600 level then break down or just break down without the bounce to 11600 I believe. If I was going to day trade it today I would enter here and look to sale a little bounce up to 11600 and then short from 11600 to 10000 drop. Interesting when it drops to 10000 this time its on a long term trend line which should prove good support. 10000 has been so far holding and it is an important psych level so it it breaks expect more weakness in BTC.

On another note ETH is still looking more favorable than BTC if you are considering entering a trade you might look at ETH. Good luck and keep your stops in place.

Kommentar:

BTC brole dpwn as forecast to the long term trend support. I now expect BTC to trade sideways with slight increases prior to moving lower to test the 8700+/- range. There is no support of any major support for a bullish reversal of the down trending pattern at present. Good Luck.