BTC/USD // BitFinex - SHORT
A couple of days ago I posted an analysis about Bitcoin breaking a descending channel. I also mentioned that if the market could not keep the price up we would probably see another correction.
Now, We can observe an head and shoulders formation and that usually means the price will go down.
There is this huge support line around the 12700 area. If/when it breaks this support we might be in for at least 8800, it might reach the 6000 area but I think that is unlikely.
Nevertheless, still a nice opportunity to bet agains.
No positions made now, but I'll fully prepared to go Margin Sell after confirming the fall, which will happen after breaking the support of 12700 area.
Now, We can observe an head and shoulders formation and that usually means the price will go down.
There is this huge support line around the 12700 area. If/when it breaks this support we might be in for at least 8800, it might reach the 6000 area but I think that is unlikely.
Nevertheless, still a nice opportunity to bet agains.
No positions made now, but I'll fully prepared to go Margin Sell after confirming the fall, which will happen after breaking the support of 12700 area.
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