It seems the dollar’s strength and bitcoin’s (and everything else against USD) weakness is not over yet. Not impressed by current trading setup except a reasonable stop-loss.
Sell: 220 Stop-loss: 230 Take Profit: 210; 205
Buy: 230 SL: 220 TP: 240; 250
Those two previous daily crosses could be a good starting level for trades. Though I don’t expect much of a price action and it could get lower before rising up. So figure out:)
Sell: 232 Stop-loss: 241 Take Profit: 220; 215; 200
Buy: 241 SL: 232 TP: 252; 260
Sell: 250 Stop-loss: 258 Profit Take: 240; 230
Buy: 258 SL: 250 PT: 268; 278
(Bitfinex data)
Sell point has already been crossed earlier so you can open a short position now with less risk or wait for break down of the level again. The USD index still not selling off therefore somewhat bearish bias now.
Sell: 239 Stop-loss: 255 Profit Take: 229; 219; 210
Buy: 255 SL: 239 PT: 265; 275;
The USD index increased its volatility last week and looks like it could book the top. We will see later whether this reversal is only start of a downward correction or the definitive top. Certainly I wouldn’t bet against bitcoin right now.
Buy: 273 Stop-loss: 255 Take Profit: 283; 293; 303
Sell: 255 SL: 273 TP: 235
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