Analytics

BTC: The Main Strategy Is To Go Short After A Small Bounce

Hi Traders, BTC continued to plunge, and the lowest came near the previous low of $6,560. My previous posts have always given short opinions. be cautious to go long. For small portion of profit, it’s worthless to chase the bounce back. If you follow my post, you will find that there is not that hard to grab $100-$300 profit from our short term tips.

BTC has been testing the support below for a long time. The decline process is sharp and clear, and it is completely a bear market now. Any action to go long the market is to give your money away to the dealer. If you want to survive in the market, it is recommended to go short.

Fron the daily chart , the continuous plunge caused the Bollinger Band opening to expend directly downward. The currency price is running $6,650 below the Bollinger Band’s lower rail. The lower rail currently supports the $6,500 support. The MA5 and MA10 continue to fall. The MACD fast and slow line dead fork operation and the long-term downward trend is slowly forming. But before that it will have a small rebounce to $6,750-$6,800.

BTC operation recommendations:
Short: $6,800-$6,750
target: $6,600-$6,500
stop loss: $7,000

Enter:$6,550-$6,500
Target: $6,650-$6,750
Stop loss: $6,400
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