After a small pullback in early trading, there's been sustained oscillation upward, currently stopping at the 689 area. Don't sway left and right at this point - any rebound is an opportunity to short.
Structurally, nothing has changed. It remains a bearish trend. BTC's rebound move is merely an opportunity for bears to build strength. Chasing longs on small rebounds is just asking for losses. This afternoon, pay close attention to the 690 resistance level. If it doesn't break above this level, you can short in this area, with downside targets at 675-665 area.$BTC
3.23 Monday Afternoon BTC Latest Analysis - Weak Rebound, Continue Shorting
After a small pullback in early trading, there's been sustained oscillation upward, currently stopping at the 689 area. Don't sway left and right at this point - any rebound is an opportunity to short.
Structurally, nothing has changed. It remains a bearish trend. BTC's rebound move is merely an opportunity for bears to build strength. Chasing longs on small rebounds is just asking for losses. This afternoon, pay close attention to the 690 resistance level. If it doesn't break above this level, you can short in this area, with downside targets at 675-665 area.$BTC