BTC Analysis 08May18

Now that a short term top has formed we can see that once again it was a lower high as expected. With the previous Higher low this places us in yet another Asymmetrical triangle. Most likely scenario we bounce around in here for a while. Big positions are suspended until a clear breakout occurs. We still have plenty of room to move lower, and we have confirmation with the indicators. I'd avoid any long trades in the next few days hence the short tag. If you want to scalp long once a clear reversal form take a small position and sell a bit before the resistance line. If we break out then buy back in.