Hello, Traders! Monfex is at your service and today we overview BTC/USD.
We clearly see the resistance zone of $ 9,000 - 9,350 and resistance line of the descending channel, with MA200 that is also like our resistance tool for now. Bitcoin has the bearish formation: after the downward impulse - consolidation - second falling impulse will be more likely. But it's also can go up to the resistance zone, with a local bullish divergence by RSI as we see.
40% probabillity
Supposed Trade Signal by BTC/USD
Sell near $ 9,200
Take profit ~ $ 7,385 - 6,757
Stop at $ 9,610
60% probabillity
Supposed Trade Signal by BTC/USD
Sell near $ 7,630
Take profit ~ $ 7,385 - 6,757 - 6,130
Stop at $ 8,120
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Disclaimer This report is for information purposes only and should not be considered a solicitation to buy or sell any trading assets. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
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