Potential Decline in Bitcoin to 32000
Atualizado
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in Bitcoin ( BTC) .
Trend Analysis
The main view of this trade idea is on the 15-Min chart. BTC has been channeling lower in the short term with lower highs of 34675 and 33335. The cryptocurrency made a 1st low around the 32650 price level and is expected to make a lower low around the 32000 price level. At the time of publishing XLM is trading near the upper end of the trend channel.
Technical Indicators
BTC recently crossed below its short (25-SMA), medium (75-SMA) and fractal moving averages and its RSI is trading below 50. Moreover, the KST confirmed a bearish move with a negative crossover.
Recommendation
The recommendation will be to go short at market. At the time of publishing BTC is trading around 33060. The medium-term target price is observed around the 32000 price level. A stop loss is set at 33325. This produces a risk reward ratio of 3.82.
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in Bitcoin ( BTC) .
Trend Analysis
The main view of this trade idea is on the 15-Min chart. BTC has been channeling lower in the short term with lower highs of 34675 and 33335. The cryptocurrency made a 1st low around the 32650 price level and is expected to make a lower low around the 32000 price level. At the time of publishing XLM is trading near the upper end of the trend channel.
Technical Indicators
BTC recently crossed below its short (25-SMA), medium (75-SMA) and fractal moving averages and its RSI is trading below 50. Moreover, the KST confirmed a bearish move with a negative crossover.
Recommendation
The recommendation will be to go short at market. At the time of publishing BTC is trading around 33060. The medium-term target price is observed around the 32000 price level. A stop loss is set at 33325. This produces a risk reward ratio of 3.82.
Trade fechado: objetivo atingido
BTC is currently trading below the target price.
Aviso legal
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