SmartCryptoAssociation

BTCUSD - Is this the weakness we were looking for?

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BITSTAMP:BTCUSD   Bitcoin
From the last posts, we concluded the pattern is looking more bearish than bullish. We shorted many tops as the price bounced up every time, took profits on the bottom support of the channel, and was looking for a rise in price to find weakness. When price moved up to 9.3K, the decreasing volume suggested the rise price is going to switch. We took a SHORT position $9.3K and are already in profits. However, the low RSI value near the bottom range is a bit suspect. Our current strategy is to stay in our SHORT position until there is a candle close with a significantly higher bullish volume.

Happy trading :)

Smart Crypto Association [ SCA ]
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