Facts:
- Bitcoin bounced off the key mid-term resistance zone
- The mid-term sentiment remains bearish
Recommendation:
Trade: Short position on BITCOIN at market price
Target: 74900, 72610
Stop: 82450
Opinion: Bitcoin has experienced an upward correction recently. Looking at the H1 interval, one can see that sellers managed to halt advance at key mid-term resistance around $81,150 which is marked with the upper limit of the 1:1 structure and previous price reactions and 100-period moving average. Taking this into account, continuation of a downward move is possible. We recommend taking short positions on BITCOIN at market price with two targets: $74,900, $72,610. We also recommend placing a stop loss order at $84,450. Source: xStation5
