Hello to all watching my charts.
Today we'll have a look again to the pair BTCUSD, Bitcoin.
Its easy to check that BTCUSD has dropped out of my long channel (purple color).
Now a Shprt channel has formed in which the pair is currently running down
A reversal of the downtrend and a resumption of the long trend is still possible, as support at 3860 still holds.
However, we're watching these BIG BIG bars again
2.8% down
and
3.7% down.
That in my eyes does not see well for long positions
That's why my assessment is that it's going downhill,
Ultimately it is decided on a break of both blue lines at around 3840/3860.
If they will be broken now, in my opinion, its to expect further falling prices in this marked channel.
And again told:
If you are trading in that market the Stopp Loss must be 4-5%
away from the chart not to be fished up with our stopp
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--This information is not a recommendation to buy or sell. It is to be used for educational purposes only .Alllways do your own research---
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