Bitcoin - Rallies continue to attract sellers

BTCUSD
BTCUSD

Bitcoin - Intraday - We look to Sell at 10000 (stop at 10300)

Prices have continued the bearish move lower and resulted in 3 consecutive negative days. Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end. Previous support located at 9100. There is no clear indication that the downward move is coming to an end. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 10000, resulting in improved risk/reward.

Our profit targets will be 9100 and 8500

Resistance: 9800 / 10000 / 10200
Support: 9100 / 8500 / 8000